...And by that, I'm talking from both a BTC and USD standpoint. Although I'm sure most won't go near there BTC holdings at present, especially if it means investing in some useless alt. But you know what they say about being "greedy" or "fearful". Fear is literally the definition of the alts right about now. But looking at things from a more logical perspective, this might actually be a great time to be throwing in with the alts. Especially the most "undervalued" one...
Check out this screen capture below. Now I'm not looking at technicals or indicators here. Just simple charts and logic. The black arrow shows the last significant low we had, way back in mid-December 2018. After which, we then climbed up to sit at a comfortable 40 cent mark. And if there was a support level to be found, I'd say anything that 20 cent range has been pretty solid so far. For months, this has held up nicely.
So yesterday, we saw a dip to where we currently are, at around 35 cents. Now look at the blue arrow directly below current price on the chart. That represents zero! In other words, a price point we can't go under. So the way I see it, if ever there was a time to dollar cost average into STEEM, it would be now. Something along the lines of buying in at 5 cent intervals on the way down. I'm thinking that could work out quite well actually.
The reason I say this is because we are far from a dead project. In fact, we've got so much going on that even I find it hard to keep up. And I've been here from almost the very beginning! If STEEM is a blockchain you really believe in, then I can only assume this is a golden opportunity to capitalize on some huge potential gains. It stands to reason, given the developmental leaps and bounds we are making.
Many individuals are claiming that we may never see an altcoin season again. But I say what would you consider an "altcoin" season? Like, suppose STEEM rallied back up to over a dollar from where we are now. That's an almost 3x push upwards. Sounds pretty awesome, right? Altcoin season doesn't have to mean breaking new highs or retaking lost marketcap positioning, for now anyways. It's about looking at what "is" happening and then carefully contemplate what "could" be happening going forward.
I, like you, am quite saddened by the substantial drop in price that STEEM has endured. But whereas most people will simply crumble under the pressure and give up, I'd like to think I wanna come out fighting, harder and stronger than before. The craziest thing you could think of is buying STEEM right now, hoping for a pump in price, right? If that's the case, a move like that might turn out one of the smartest things you've ever done in the crypto space. Watch out for the perils of the "herd mentaility" mindset. A trap the majority in the market fall prey to.
Facts: The STEEM/USD value is close to zero, proven support area in the 20 cent range seems solid, the STEEM blockchain is flourishing like never before, we are 5th in the blocktivity charts, the STEEM community is enormous compared to our other digital token-based counterparts... Lol, now you do the rest of the math and tell me what you think? :)
