Back when Steem used to be $6 or so per coin, I saw so many people who claimed that they regretted not buying in when Steem was cheap. I heard so many people tell me that they were “late to the party”, that it felt pointless to blog because they were so far behind, or felt that they were too late to invest their fiat into Steem (Power).
Now is your time to put your words into action!
I’m sure most of you are aware that most cryptographic coins and tokens are on a bargain these days. A single STEEM is worth just under $2, which is less than a third of the all time high value, so now you get a much better value in terms of Steem Power per fiat spent. It's not that good for us bloggers, but it's perfect for investors and users who want to have more influence on the Steem blockchain!
The entry barrier to buy into Steem is now a lot less. For $1,000, you close to 600 Steem (Power), while you would have gotten less than 200SP at the all time high.
I don’t expect most people to be able to invest a lot of fiat into Steem, but at least this is a good opportunity for everyone who wished they had bought in earlier. This morning the market was mostly green for the first time in a while, so we might be seeing a new bull run again, so this might be the last chance to get in this low. However, I obviously cannot control the markets, so do your own financial analysis before investing your life savings.
Will Steem bounce back?
I’m one of those persons who believe that Steem will increase a lot in value over the next few years, as long as Steemit Inc. will deliver on all the updates that they have promised us. It’s been a long time since I gave up on waiting for Hivemind, SMTs, or Velocity, but it’s bound to be finished at one point. Right? I just hope it’s sooner rather than later, because we are all starving for updates here.
Anyway, the technology behind the Steem blockchain is great, the people here are great (with some exceptions of course), and the apps developed for the Steem blockchain are mostly amazing, so I surely don’t see any reason why Steem will not grow.
What we need right now in order to get a higher price are some new updates for the Steem blockchain, more active users that provide good content instead of looking to get rich fast, and curators who actually upvote people who create the good content. We are all responsible for the health and growth of the platform, so spend your time wisely, and remember to vote for the witnesses you think are the best for the blockchain or community.
Steem is still a great place even when the price is low
While we’re down to Steem that is worth less than $2, spending as much time writing content and interacting with people can feel a little demotivating. The rewards are obviously going to be a lot lower than what most of us are used to, but remember that while the USD value that is displayed is lower, the amount of STEEM is just the same as before.
What this means is that yes, you get less “money”, but unless less people are voting for you, you get the same amount of STEEM. As a matter of fact, it seems that less people are generally blogging on Steem when the price is low, so there are less people to share the reward pool with. In other words, those who stick with the blogging and hold their STEEM will be in for a nice surprise if the price gets as high as the all time high again.
Thanks for reading
I wonder if anyone who ever said they wished the had bough in when STEEM was at $1.50 that actually do put their money where their mouth is. For those of you who do, now’s your chance to stock up on cheap STEEM, and who knows if we will ever get the opportunity to get them this cheap ever again?
Thanks for stopping by! Have you bought any crypto in the recent bear market?