I ask that out of pure curiosity. Listening to what people have to say up in here, I can certainly see the divide in people's mindset about the platform. I mean, we did drop down a huge amount in marketcap from the highs and lost tremendous value in price. However, development on the blockchain is still in full swing. Better than ever, some might say. So surely now is a good time to invest, right? Here are my personal thoughts on my own experiences...
I recently purchased a little STEEM and gotta admit, it was an overall relatively uncomfortable process. I mean, the value of our token is still in the midst of a strong bear trend with no signs of stopping. However, that has always been my indicator of market sentiment. My own internal feelings. If I worry or panic about investing more into a project I do actually believe in, chances are the majority of the crowd think the same. Regardless of whether those doubts are substantiated or not. And with something like the STEEM blockchain, evidence supports the latter. So I usually do the exact opposite and hope for the best. So far, this way of thinking has worked out quite well.
Because at the end of the day, the facts are the facts. We have the development, the community and the technology to give credence to the possibility that we are extremely undervalued right now. But bear markets also wield a lot of psychological power, especially to susceptible minds. Nobody wants to continually shovel money into a bottomless pit, yet that's what it can feel like. I get those feelings when I buy STEEM, even though I'm pretty much sold on the project itself. That being said, I'd also feel that way about investing into any other crypto-based asset for now, except for Bitcoin perhaps.
The thing is, I've seen firsthand what happened back in 2017. The monumental turnaround in price for the alts across the board. And that includes STEEM. Hell, we went all the way from 7 cents up to almost 9 dollars. Was this a one-off? An altcoin hype bubble built up in the foundations of feverish speculation alone? Well, one can theorize, I guess. But, if indeed there is another altcoin season on the horizon, there is a good chance the coins that "pop" will be more selective by nature. Gone are the frenzied ICO campaigns of the past, for instance. Use-case and developmental reasoning may well prove a more valid argument for buying into a solid blockchain. If that is indeed the case, STEEM could well be in the running for a huge pump in price. My humble opinion, of course.
So simply out of sheer inquisitiveness, it would be interesting to know whether any other Steemians out there are thinking of buying at these low levels and how much? It is a risk, as is any considered purchase within the crypto markets, but then without this being the case there would be no rewards either. And the rewards can be absolutely breath-taking. Love to hear what you guys have to say on this...
