The crypto market is a mysterious place where people get rich overnight and others loose tons of money for reasons they can't understand. Watching the price turn green or red can really affect the emotions and decisions of some people, especially the new ones. Now that the price of Steem and SBD are falling again, should you be worried? Is it time to panic?
During the last two months, the crypto market grew considerably in capital. Almost all coins marked a strong rise in price, which is great news. This brought new people to the game, and most importantly new people on Steemit. Unaware that the price is bound to fall I imagine how many of you are feeling right now:
Now you might be wondering how low is it going to fall, should you sell your hard earned Steem for Bitcoin and wait until Steem is on the rise again, is there a point to continue posting on Steemit, and many other questions that no one actually can give you an accurate answers to. All I can give you is my advice based on my (one year long) experience with cryptos and Steemit in particular.
First of all, never ever let the price control your emotions. Once you master the skill of not giving a damn if the price is red or green you are already winning this game. Most traders tell you to buy when the price is low and sell when the price is green. I say don't sell or buy at all, just hold on to your coins. 99% of us are not genuine traders, the remaining 1% that is left is feeding their wallets from the fear of the other 99%. In other words, they wait for you to panic, and as you sell your coins they make even more money. A day, maybe a week or a month later the price jumps up again and you sit there and wonder why the hell did you sell your coins so cheap. Maybe it was best not to do anything at all with them.
Going back to Steemit. The usual trend is when the price jumps people are more active when it falls they are less active, no surprise there. There is a strong correlation between price and activity. So why you should be happy that the price is falling? Remember the 1% traders who take advantage when the market 'crashes'? Right now you are in a position to take advantage of the price drop and instead of panicking and having second thoughts about Steemit you actually should be celebrating! First of all, the lower the price of Steem falls the network will award you with more tokens. Now is the time to grab some cheap Steem, all it takes is just to ignore your negative emotions about this situation and see it as an opportunity. Keep on posting, curating and commenting. What's more, now more than ever before, is the time to be even more active. History is bound to repeat itself and as Steemit becomes more popular, sooner or later your balance will jump up again, and you will realize that red is not necessarily bad and green is not always good. All you need to do is to KELP CALM AND STEEM ON!
