If you're anything like me you woke this morning and checked coinmarketcap and the prices of cryptos, and were shocked to see just about every coin in the RED. Steem has gone down about 20% in the last 48 hours from around $2.30 to its current price of around $1.80. Generally when there is some substantial negative price action like this there is massive decrease in activity. Is this sudden downturn in price a cause for concern? No In fact you should be Steeming more!

Why?

If you are intending on being on Steem for the long term (like you should be!), then short term dips like this shouldn't affect your overall posting strategy - if anything you should be posting more. This is the time to ‘invest’ in some cheap Steem - by invest I mean blogging and earning Steem (although if you have spare FIAT you could also invest that way!).

I have alot of faith in the long term success of the Steem blockchain, and although I have only been here about 4 months I know how volatile cryptos can be in general and have seen a couple of big dips since i've been here - and the prices have generally bounced back. Don’t worry I don't see the price of Steem dropping to zero anytime soon!

Although Warren Buffett may not be a crypto investor or advocate he has a famous quote which we can relate to the market right now:

Be fearful when others are greedy. Be greedy when others are fearful - Warren Buffet

Steem is a bargain right now!

It's hard to get your mind around the fact that by the price being cheaper you are essentially getting a ‘bargain’. The price is $1.80 now imagine if it rose to say $18 in the future, that would make it 10 times more difficult to earn 1 Steem (and your account would be worth 10 times more!). When the price rises there is also more ‘competition’ because people start blogging again hoping to make the big bucks, and thus your blogs will gain less visibility. I wasn't here in late 2017 when the prices of the whole crypto market were booming, but from what I have heard it got pretty busy around here.

Essentially by earning some cheap Steem now you are making the best out of the downward trend in the market! The old adage is to buy low, sell high, and this is essentially what you are doing if you stick with blogging through these dips - accumulating your position in the market.

I think possibly people who are new to crypto and Steem see the price going down and either panic sell or stop posting and wait for the dip to pass. This goes against onventional wisdom and investment advice. This is how it feels when the price of Steem goes down - its a bit of a lonely place at times:

So if you are new or a bit more experienced on here remember that this is just a short term fluctuation, and no need to stop Steeming. I hope to see the majority of you still blogging during the dip :)

KEEP ON STEEMING!!!