For the past year and half I've mostly kept my account in the power down mode. It was mostly to ensure some liquidity in case of market pumps. I've cancelled it intermittently or readjusted the power down amount. I felt it would great to be able to take advantage of a big pump and dump so I could sell the tokens higher and buy more at a cheaper rate.
This has certainly helped on the way down in the past few months where Steem has dropped value from $8 to $2.30 today. This allowed some investors to accumulate tokens when many others kept selling them. There were quite a few opportunities when the market moved a fair amount and you knew it was a matter of time for the prices to fall.
That's not very positive thinking if one is expecting the prices to crash but I have to admit it helped in increasing my stake. Look at the market today, we're down heavily from ATH and recent highs as well. It's a good time to buy in as well.
Holding Steem as Steem power is beneficial and accumulating more is certainly helpful. It would've been great if 1 SBD = 1 Steem enabling faster accumulation. But nonetheless, even 0.7 Steem per SBD isn't too bad. It's certainly better than .5 Steem for 1 SBD.
I've had to sell some SBDs to cover for my expenses but now I'm considering buying more Steem and powering up in order to increase my stake. It's a slow process these days unlike the incredible days of December-January. But it's not too bad now. Maybe when SBD goes back to it's peg, I might do something else with it but until then buying Steem and powering up seems like a good option to me.
Markets can be cyclical sometimes, and maybe the prices will go back to $8 or higher and then we can reap the benefits of such high prices once again. It's hard to say if SBD will go back up. The circulating supply today is 4-5x higher than in early December and the demand is a lot lower.
However, the last time it went down to price levels we see today, It did go back up to $3.7 but then BTC had rallied to about $10,000 pulling all the alts back up.
What about you? Given the state of the market today, what are you going to do? Have you sold any of your Steem? How low do you think the prices will go?
You can also check this thread, "How Do You Feel About Cryptocurrency Markets Today?" and respond to it in the comments if you feel like. It's great to know the sentiment of users of Steemit.
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