I purchased Steem worth 700 USD and market dropped again!

in hive-175254 •  5 months ago 

Greetings friends!

Steem logo 2.PNG

I thought it is a good time to invest on Steem as the market value of Steem and other crypto has dropped tremendously. I thought to invest on other cryptos. But, being a dedicated steemian, I thought it is good to invest on Steem as I have seen in the past that after some weak periods it rises sharply and gives good return.

So, I took risk and purchased Steem worth 700 USD when the price of Steem was around $0.37. Roughly I got 2000 Steem which is a handsome amount. However, after my purchasing, currently Steem price is going down and it is around $0.28/Steem while writing this post. So, I am already in a loss. My current loss is around 25 percent which is too much. However, I am not dejected as I know one day Steem price will be more than one USD and then 2000 Steem would be worth $2000. So, I am hopeful.

I think I should powerup with those steem on occasion of #spud. What do you think?

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Friend is part of the risks that are run in this world of crypto, as everything goes down is a difficult time for sales but as you say the purchases is what you should see, and wait for recovery that surely will be for soon.
Thanks for sharing your experience

Thank you my friend for your encouraging words. I hope my investment will yield a good return in future. Steem always bounces back.

Good that you purchase quite a good amount of tokens which is 2000 in quantity. I would suggest to power of all the token and start earning curation which will surely cover your loss and win prizes will go of them anyways you will be able to earn money out of it.

y. I would suggest to power of all the token and start earning curation which will surely cover your loss and win prizes will go of them anyways you will be able to earn money out of it.
I am also thinking the same. Thank you dear for this suggestion.

What an awful timing @akdx :(

Dear @crypto.piotr this time will also pass. Hope is the tool that we have, can always guide us. Thank you.