I think this may be the first time this year the Steem price has dipped under this psychological barrier. It's just a number after all. It was last this low in late November.
I'm sure some people will panic over this, but the whole market is down today and other coins have fallen by much more. I don't trade on a daily basis, so it's not that important to me. The only downer is that I'll have to cash out a bit more Steem when I pay for my trip to Steemfest.
My question is, why should the price be higher? If it's just driven by general speculation then that means little and it's likely to just go up and down along with everything else. To really climb the crypto charts it needs to stand out. Of course we know it has advantages in speed and cost (i.e. zero) of transfers. Most coins cannot compete with these factors, but it seems the world is not interested in those, yet.
I'm not rushing to sell, but I will have to power down and sell some in the next couple of months. It's going to be interesting to see how things go from here.
Ultimately I've made a nice amount from blogging over the last couple of years. It's paid for a few things already and I'm pretty happy with that. Of course I want to see Steem and Steemit, as well as other apps on this platform, succeed. I think they could change a lot of lives if we don't just succumb to greed.
Do you believe in Steem?
- I'll buy guitar picks for Steem Dollars
- Get a Wirex Debit Card to spend your crypto.
- Get some passive income with Mannabase
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