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RE: STEEM Monthly Charts: 2025 Summer Trends and Seasonal Patterns
Correct me if I'm wrong, but isn't STEEM currently cheaper than it has been since late 2017?
So as a STEEM veteran...Is it time to buy, or should I worry that it might drop lower than ever ($.06)?
Yeah, if I'm not mistaken, today was the 2nd lowest monthly close of all time, behind only February of 2017. Out of 3,454 days in the data from CoinGecko, today was the 44th lowest close (bottom 1.2%). I'll probably post updated charts with September's (ugly) numbers this weekend.
I am always hoping for a turnaround, but I am also always worrying about it dropping more, so don't ask me about when to buy. ;-) Personally, for something as risky as crypto, I think the safest strategy is dollar cost averaging.
Two factors that argue for a turnaround are: (1.) inflation has settled down after the February SBD delisting at Upbit, and as a result the daily new STEEM is going downwards again; and (2.) Historically the time period from Labor Day to Memorial Day has gone up more often than down (5 times vs. 4), so there's a small argument in favor of a good stretch for the next 7 months...
But, TBH, STEEM basically moves in parallel to HIVE, so I think the price is mostly influenced by general crypto market factors that have little to do with the Steem ecosystem. I expected the whole market to kick up after control of the SEC changed hands in January, but that didn't happen, so I have no idea what to expect at this point.
I will say that there's probably no better time to get author and curation rewards, because the daily total of new tokens is (almost but not quite certainly) only going to shrink from here, and because competition from other people goes down when prices go down. It's hard to ignore the $ value, but if you measure in STEEM, it's a lot easier to rack up the numbers when prices are low than it is when prices are high.
0.00 SBD,
0.00 STEEM,
0.00 SP