It is great time to be new whale, orca, dolphins or minnow. Smart money moves when dumb money is afraid to enter.
We need more investors and whales like @theycallmedan, who bought Steem rather than getting through early mining as a part of early developers, random lucky miners and early bloggers. Late entrants understand the economics of Steem and have stake by buying through earned money. They involve more than early whales who just have been lucky.
Due to current low price of Steem, the paradigm of holders are shifting. One can become a whale with less than $400K, or an Orca with less than $40K. To be a Dolphin has been easier than ever, only $4K which is much affordable in developed country. Even becoming minnow in a developing country such as India, Indonesia or Nigeria with $400 is not far fetched.
Interesting in speculative currencies such as BTC or LTC, Steem provides lots of utility and usage. For example, @theycallmedan is a celebrity whale in Steem blockchain. It will be hard for anybody with $800K to have any say in BTC, ETH or XRP. It is a lots a lots of influence in 1.2M strong Social Network. Network trends to grow exponentially. First million was the hardest. With upcoming SMT and Community, we may reach 10M users within another year.
Nobody can say for sure that we are at the bottom of the market. But it better than to buy at current price than at $2 or $3 when next bull run is clear. From current price of 77c, Steem may fall another 40% in worst case scenario. However, Steem has more chance to rise 40% than fall in other direction.
This is a great time to be a whale, orca or even minnow. The bear run has made lots of level playing grounds. Whale like other @dan, even @ned have downsized their holding, good for distribution. If Steem goes lower or even stays at same price for couple of more months, we will see new players. As it it always said that the smart money always move when the dumb money is afraid to move.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Cheers!
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger
I am still only half way through watching the Steem Fest 3 presentations and to see the amount of projects about to launched and those that are being upgraded provides a great feel of optimism for the future. Like you said, the risk/reward balance is at a very attractive spot right here. I continue to consider adding more even though it goes against some rules I have for myself!
Yep, that is good to know and we have to go against our tolerance of risk to achieve it BIG ;)
Hi, @riseofth!
You just got a 0.57% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.