It's been almost 6 months I've seen Steem price in its highest peak @ $8 dollar plus. The day was around last week of January this year and since then the price of Steem kept falling. For a certain time, the rate was stable as it is; till February but again there was a decline in the price of it.
Now, the price is beyond my expectation. I never imagined that the price of Steem would almost come back to the point from where I exactly started taking interest in Cryptocurrency and Steemit for the matter. When I jumped into this wonderful community, the price of Steem was around $0.99 and the recent dip was around $1.15. Now, the question always comes to mind is that if that's the situation continues in coming weeks and months, there will be so much of downfall in terms of new investors, new users, the number of quality contents and so many other things, The greatest challenge here would be to retain its user base that'd been growing exponentially well for the last couple of months but it suddenly got a break due to its volatility and the market as a whole.
I don't know the exact number of total users of Steemit community but, I can surely make a statement that not everybody came here to show how saint they are by not looking at the financial terms, they are least bothered about the price shoots up or falls down, their posts earns them a good amount of SBD or Steem. I am not saying that those people don't exist, yes, they do but in little number. Most of the people take this platform for some amount of income to generate for them. For someone, it could be just a few dollars to meet their dreams /demands/necessities or it could be a monthly remuneration kind of feeling for some people. I do belong to the latter category.
My primary motto here is to establish myself as a prominent blogger, to polish my English, which is the most important aspect and later on earn for a living. But at this juncture, the third aspect is overlooked due to many reasons and I'm least bothered whether the price remains the same or falls down further, I am just trying to focus on my initial two aspects. Concentrate on quality content as far as I can or as much as possible and obviously brushing up my knowledge of English and grammar in the meantime. But, in my sub-conscious mind, the question comes and irritates me and that is "Will the Market Bounce Back? If yes, WHEN???