These are hard days!
When I did have a look at my wallet today I was baffled by the value of my wallet. I knew these are hard days but for sure for the ones who do depend on some kind of steem income. Luckily for me, I am not one of those.
So, I decided to see how the correlation between my steem power, the steem price and the value of my wallet was.
The blue line on the left represent my Steem Power holdings, the red line (couldn't have chosen it better) represent the value of my steem wallet.
As you can see most of the weeks the increase in steem power did kept the value of the steem wallet on par. But there were 4 week in which it became painful.
The first sharp drop was around the end of June, when the steem price did loose more than $0.4 in one week. But that was recovered the week after.
The second painful moment was beginning of August, which more or less was the start of a downhill period. It went from $1.45 toward 1.16 and the week after we didn't even have the 1 anymore and it dropped to $0.96.
In the beginning of September we had a short period where the steem price was shortly back above $1.
This was followed by a period were the increase in SP could cope the decline in Steem Price, but from the beginning of this month, this recovery was also over :(.
Now, all cryptos are undergoing a free fall and we all have the question when and where it will stop!
The problem is that we don't know and if we knew we would become very rich!
The only thing we can do is to keep being engagement and to hope that it will slowly climb up again!
Keep the faith! Because we don't know what the future will bring us!
Cheers,
Peter
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You know... I'm rather excited. I'm buying crypto now first time for more than a year. It's a chance to get a sweet prices like before once again. But this time, a new bull run will rise us much-much higher.
We must have a patience, but now in a desperate market it's a time to buy cheap coins!
By looking at the charts above it's rather obvious who's guilty for this situation... the better you did, the worst the steem price got :-)
Well I never look at it that way. But with my luck with these kind of things, you could be right!
Maybe I should stop growing on Scorum 😂
Why would he do this to us? Some of us liked $6 STEEM.
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In times like these, I try and remember that I am simply trying to improve my stake. Not necessarily the value of my stake (though that would be nice) but the amount of coins themselves. Trading alts against bitcoin is slowly but surely doing that and being able to buy in at these low levels would have been seen as a gift this time last year when I feared I came on board too late.
I also have the luxury of not counting on this for an income presently and will just keep plugging like you because this will bull run at some point and we will be in great shape.
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The longer this drop last, the harder it is to feel the urge to bring down some average book prices! I know that I some point I will have to bite the bullet and invest some more. It indeed would be crazy not to profit from these days, but that is also what we told each other in June and August.
I also know that most profit was made within the time span of one month, so it could go fast!
But for the moment, I will hold my nerves and hoddle on! Waiting on a sign for a market improvement. If I buy NEO at $10 in stead of $7, it still would be a bargain!
Cheers,
Peter
Since we do not need to realizie this value now, I just build and grow with the potential of what the value will be in the future. We are still early adopters and this behavior is not unique to our community.
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You are spot on! And that is what we will do, grind the blockchain, interact with each other and engage!
It is not that we could do anything else then flee :(
Thanks for the comment!
Cheers,
Peter
That chart is just painful to look at. Such a drop off there. Straight over the cliff.
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