STEEM is getting beat up like all of the other cryptos. We're at the support level right now where STEEM should see a lot of bulls step in. This level took us from current prices to basically tripling and testing the $4.50 level.
Overall, I'm not worried about STEEM. If anything we could even look at the current price levels as an amazing buying opportunity. This crypto for $1 (or thereabouts) is a great deal. STEEM has incredible upside potential. Don't forget, China called STEEM it's #2 crypto.
It's typical to see the alts get pounded while everything falls. In the long scope, we will be glad to see these prices and be kicking ourselves for not getting more. This site and currency is a LONG term hold for me, so this doesn't phase me at all. The only annoyance about low prices like this means less curation power and rewards. That in turn typically means less engagement which means even less curation and so on and so on.
What happens if we break current support? Then we see a touch of the $1 level. SBD already broke the $1 support it was tied to, but is now hovering around that level. STEEM might have the same fate. It is very possible and potentially likely that we see sub $1 STEEM again before too long.
This platform has nothing to fear. I am confident this currency will be one of the prosperous coins that has longevity.
