Steem is trading at 28 cents and the panic bells have started going off. Undoubtedly some holders are probably dumping their holdings on the exchanges as the seek an early escape.
This has always been the way of the world. Price will always shake off weak holders before continuing its descent or ascent.
There are two ways of looking at it. Either you are the 'we are fucked...get out when you can guy' or you are the 'double-down, triple-down guy.'
Here is why you should be the latter.
1: Steemit.inc are projecting going in the green.
Steemit.Inc have over the months programmatically been selling Steem to finance their operations but ever since they restructured and introduced ads into Steemit that curve is heading north or north-east at least.
Now that it looks like Steemit.inc are likely to stop selling their Steem in the near future, that yoke that has been partly responsible in depressing the price will soon be gone. Make sure you are around for that.
2: Tribes (Scot Bot) and Communities.
If the words Palnet, Leo, Splinterlands, Steem Engine or Condensers don't sound familiar to you, where have you been for the past couple of weeks?
Tribes are essentially a group of people with similar interests. We have had sites launched around those particular interests and tokens as well that can be traded on Steem Engine.
With over a dozen of this tribes currently live, there is no reason you couldn't find a community where you could fit in and start earning and possibly attain dolphin or whale status.
Not to worry though. You still earn Steem as well on those platforms.
3: HF21 - The proposal system.
I had to save this for last because this is what hold the most promise. Even without the proposal system tools such as Steem Engine with Scotbot, SteemPeak, Peak Monsters, Splinterlands are various examples of what can be achieved on the blockchain. Imagine the possibilities if we can actually come together as a community to fund projects on Steem that are likely to add the most value.
Now is the time to get a larger piece of the cake while everybody is distracted by the Bitcoin cherry.
You can choose to dump your Steem and then come back months later with regret when it is mad expensive or hodl and stake your Steem and ride the rough waters now for the promise of value in the near future.
While this is not financial advice, keep the contents of this post in mind.
Till next time.