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RE: STEEM price falling by 8% per day, barely remains in the top 100
I agree with your sentiment if you are looking at steem like a stock. STEEM is akin to a dividend paying asset, and the cost basis keeps going down. The problem is that if you are looking at STEEM as something to power up and as an engine of value creation, you should be laddering down your purchases. This is especially true if you anticipate the price recovering even to near term highs and you are regularly participating here. The more you have in the interim, the more you will get back in rewards.
I'm looking forward to see what happens to my curation rewards when HF21 comes. The fact I have been dollar cost averaging into STEEM means I will just get more of them.
Sounds like you are basing all that on the assumption that STEEM will in the future become more valuable than it is today. IMO that's becoming a bigger and bigger (and sillier) assumption to make. Not everything that goes down must come back up again. Currencies can die, even crypto currencies. I tried to catch this falling knife 2 years ago with $5000 (0.2 BTC). Dollar cost averaging only makes sense when a recovery is coming.
BTW just curious what you think my "sentiment" is, since you mentioned it. (I'm not entirely sure what my sentiment is, so it's interesting that you know!)
Your sentiment is bearish, and you have just clarified it's long term bearish and you doubt it will recover. So why are you still here? If you don't think it will recover, that means this platform will fail. If you believe that it will, then your time would be better spent in something with a future. It amazes me to see how many people share this sentiment, yet are still around participating. That tells me that there's a good chance of recovery because they are still here, but are in a state of despair.
In either case this is a speculative endeavor. I see the builders keep building, and that keeps me long term bullish. If that activity stopped, I'd change my outlook, but from what I can tell it's accelerating. I'm just surprised how many people hang out here so convinced of it's impending failure, and I feel sorry for them that they value their own time so little that they have nothing better to do than ride down a sinking ship.