For many of us 2018 started out with a hope of improving our personal finances by diversifying our investments then being forced to watch it crumble down due to a seemingly never ending bear market. A complete rollercoaster in every sense of the word.
Steem blockchain users have suffered as much as anyone else for a multitude of reasons. Even in the real world we’ve seen many companies shutting down this year. Some startups from the silicon valley have closed their doors and the blockchain-cryptocurrency space has been no different with layoffs at Steemit Inc and other blockchain companies.
There is nothing mystical about market cycles however the importance of investing in solid projects backed by professional teams is truer now more than ever before.
As I write this Steemit Inc is far from accomplishing the goals from set in the original roadmap. It has made everyone question competency of the core-team and its leadership. The year isn’t closing on a positive note for most of us eh?
Life...It happens!
Last 3 years in this space has also shown me that you have be prepared for any kind of change. You have to adapt to your circumstances.
These years have seen the rise and fall of a majority of projects. No surprises here as many startups generally fail within the first three years. Besides, cryptocurrency space is filled with poor execution and scammers.
I’ve learn't to be patient in the past 3 years. But, the need for an exit strategy has been drilled deep into my mind now than ever before. Being emotional about your investment is bad. Even if you are here for the technology, it's necessary to have an exit strategy because not all factors are ever in your control.
As the downhill run continues, it’s only natural that we see people who were completely focused on blockchain and cryptocurrency look at other means of employment to sustain themselves.
The market hasn’t bottomed out yet and even if it has the current prices are nowhere near sustainable rates and a major bull run is out of the question for now.
Gone are the days of 50-250% pumps for STEEM.
But then again, tomorrow is another day and one cannot know for sure in the world of cryptocurrencies. I suppose it’s not over until it’s over!
There’s certainly more to look forward to moving into 2019 as the ecosystem continues thriving. As far as Steem blockchain goes, IMHO we have just one more chance as a community to prove that Steem is worth everyone’s backing. Can we do it?
Anyway, these are some of my thoughts going into 2019. Let's hear it from you now.
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