Bitcoin is crashing and still looking for the bottom as I’m writing this. It seems the people or institutions that held the large amounts of BTC had already got rid of their holdings some time ago, it’s only now starting to show the real market value of it. And the little people with little money are trying to buy it low but their buys are never enough to keep the price of bitcoin sustained even at below $4,000!
Not just bitcoin, the stock market has been correcting for at least the past few weeks too! The riches were cashing in. There’s no other way to describe it.
Cash is king. As long as you have a decent salary from your job, this may actually be an opportunity for you to build up your base in preparation for some potential growth in weeks or months ahead.
In fact, if you set the fiat equivalence aside, no one is actually losing any money in their crypto wallet—unless they sell and do not buy back in its recent downtrend. For example, if you owned 10,000 Steem last week, chances are you now own more than 10,000 Steem in your power.
And although your Steem and SBD rewards through your SP delegation may be down as well, you are still earning them daily nevertheless.
While you have sympathy for the fellow Steemians who delegated, 10x, 50x, or 100x of SP more than you did, this might serve as a chance for you to catch up with them.
The Steem prices are still so low, your same salary from work can now help you get more power for your delegation so when the time comes, you will be in a much better shape.
Have fun and best of luck!
p.s. I am now no longer buying SmartCash with my rewards. As stated in my previous posts, Steem is still fun although Smart has been replaced by something else more useful.