I think this is the best time to buy steem. Unfortunately I don't have enough funds now to invest on steem. Last year when I started in this platform for the first time. I was much worried that I was unable to make purchase because of high value of steem. Especially during the month of December and January the price was very high and it was not really affordable to purchase and keep some steem.
For the new joiners I think this is the right opportunity to buy steem and accumulate it. I know lots of people who made real profit out of steem when the price fluctuates. A good friend of mine in steemit always used to say that we should not keep the money idle. It should always be a buy and sell game to see profit. But we have to take calculated risk so that it doesn't affect our fundamentals.
Yes, it is. Buy at the lowest price to be rich when the price goes up. That's a great strategy, you just have to know when is the lowest price.
I've seen people buying steem when it was $0.7 because it was lower than before. Now it's around $0.50 or so.
If you're trading only what you earn here on Steemit, it's not really a big loss. Investing your own money however requires more attention. If you're investing a larger amount, a small drop like this can hurt you.
There's also another aspect that needs to be taken into consideration. If you're looking for a larger profit in a short period of time, you have to invest a larger amount of money and ast fast. Right now it's not the time for that because this downtrend is not helping. If you're willing to wait till the price goes up, then it's the best time to invest.
But what if it goes to 2 cents? How would you feel if you bought at 45 cents and then the price dropped a few hundred percent?
When Steem hits 2 cents I'm putting $1000 into Steem. That will give me 50k SP so well on my way to becoming a whale.
And all those people who bought Steem at above $1 will be looking at my massive Steem wallet and hating on me.
I'll then invest another $1000 as Steem travels upwards from 2 cents. And before the year is out I'll have 150k SP. I'll be unstoppable in my account growth.
I'll turn my account into a bid bot, and make a large passive income stream from my vote sales.
I'll then open up a second account and slowly load it up with profits from my bid bot. In time, this secondary account will reach a high level of SP and I'll then delegate that to my already powerful bid bot. Making it's voting power even greater and the profits much higher.
I'll open up a third account! And all profits from my bid bot will go to this account. This third account will quickly grow in SP, and will surpass that of all my enemies. My enemies will then feel the wrath of my third large account. And I'll expend all voting power to nuke their reputations while I laugh my most evil laugh.
So yeah, I'm waiting for 2 cent Steem.
Why are you buying steem?
This is a question you need to answer yourself.
At least these are just my personal opinion. No one knows where the market is going and anyone who says otherwise are either trying to sell you something or has water in their brains.
I for one think that if you really believe in Steem, is planning to stay for a long time and has enough "extra" money to invest to, then everyday is the best time to buy Steem irregardless of it's price in the market cause eventually you will get your investment back if you are genuinely active on Steem.
I'm no professional trader nor an experienced-whatever-people-call themselves in the crypto market, but I really do think that Steem is not for people who are seeking immediate profit or ROI and this is mostly because Steem is under a somewhat FREEMIUM model.
Take for example a FREEMIUM video game wherein players who invested a lot of money in that game are expected to do pretty well compared to those who don't. However since it is under a FREEMIUM model, players who don't have the means to buy good items or level-up fast have a chance to still do pretty well on the game by grinding day and night to level-up and get some rare/high-class items.
If we compare that to Steem, people who invested a huge chunk of money are also expected to do pretty well on the game provided that they already know how the Steem economy works. It doesn't matter at what price they bought their STEEM what matters is their commitment and goal in the platform.
Like if we compare a hardworking minnow who constantly interact genuinely with his/her fellow Steemians and is posting actively on Steem compared to an account who might have bought 5000 Steem back when the price of Steem was at $0.01 and all that account did was delegate all his SP to a bidbot/upvote service. Eventually that hardworking minnow will catch up to that account with only 5000SP. XD
It's a good time but not yet the best time since there are speculations that it will drop even lower than 50cents.
And if you intend to buy some steem, you might want to listen to an advise I got from @cryptoandcoffee, which is to buy in partially. Don't purchase all at once as it may still vary quite a bit.
The answer to your question has two ways.