In the chart below, you can see Steem dropping .88$ in the course of four days, a 48% tumble in such a short period. With the price dropping, you've also seen the value of your upvotes drop and your author rewards do the same. It stinks when you have good content in the rewards pipeline and it gets sliced in half before it reaches the payout window.
The beauty of that is the fact that assets have a way of stabilizing after a correction and begin the climb back to fair value. In this case we should see a fairly good "dead cat bounce" once we have bottomed.
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If the steem coin stages a come back in the next few days, you will see the reverse happening. Your posts will gain value as the coin strengthens. Your votes will have more power. You'll feel more optimistic then you did watching it nosedive into the ground. You don't see any early adopters freaking out, they were here in February, when the coin was trading at .07$!
Sit back and relax while the value of the coin comes back as well as your account value. Not the time to panic. If anything, it's a buying opportunity!
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The problem is, down here I see nothing stoping it from going back to .07 I never thought it would get this low. And, it looks like it hit the 36K sat level an hour ago. I bought another 1,000 (sitting on those in bittrex though) last night at a $1.00 and thought I bought at the bottom. Not so fast!
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I hope you're wrong about the .07 level. Even if it were the case, I would just load up on SP rewards 100% and put cash money into steem. This platform will be around for a while.
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I really hope I am wrong too!
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I love bouncing dead CATS!!! Upvoted! Hate cats! Catdog!
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Got two dogs of my own, one of them hates cats, would bounce them all day. Thanks for reading @steemblake
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I just put some Cash into STEEM (yesterday) hope that was a decent enough time to buy.
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Sounds like a good entry point @ryn
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I do like a dead cat bounce on any coin. I think you are right though. There will be a reversal and all you have said above will happen. Not the time to be discouraged!
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Time for a stiff upper lip and then buy the dip. Totally didn't mean to rhyme. @meesterboom
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At least you didnt get too deep @wakeupsheeps
Wait, is the ryhming infectious!?
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lol. The coin has hit the bounce on command, .15$ in your hand.
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It's like magic!!!!
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I really hope you're right. I took a risk and invested in Steem while it's so low. It's the first time I've ever invested over at Bittrex so I hope the market goes up. I'm tempted to buy more at the right price but I'm nervous to invest too much.
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Don't be nervous. Only invest what you can afford to lose. Steemit and steem will be around for awhile. Their conjoined relationship gives it a true advantage over so many other coins.
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Dead cat bounce 😂😂😂😂
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Doesn't a "dead cat bounce" mean that its finally going down much further after a short fake rise?
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Not always, could be.
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Buckle up! I think this is actually great news. The platform has been going for over a year and survived in tact, with lots of successful people using it to the fullest extent. Now the word is getting out. People can feel it. And while there are lots of people joining, the investors are now probably unable to see reasons not to bank on what could be the next big thing. Great article @wakeupsheep !
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Thanks @ecoknowme, I see a bright future ahead.
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that's a great post I like your work thanks a lot for sharing and keep on posting ;)
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Thanks @othmanesl
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