Thank you @wrashi I don't consider myself a professional investor but I think I have more experience than most amateurs.
I was half expecting this drop in Bitcoin and Steem, and I am also prepared for it. I also agree that Steem and cryptocurrencies in general are speculative in nature.
Part of my reason for purchasing Steem is my skepticism in the USD, fiat currencies and the ability of Governments around the world to weather the next Global Financial Crisis.
So in that sense, I am hedging my source of income since I receive USD's and depend on the health of the U.S. economy. If the current monetary system collapses I'd be out of luck unless I invested in gold or something that would benefit from an economic disaster. I am choosing Steem over gold but a friend of mine has recommended against it.
P.S. Your three most recent posts are much better than your first ones, and they show your experience as an investor. I am happy to be following you 😊
Thanks for such an excellent and well thought-out response, @chrisrice! I too am far from being a professional, but have a clear vision of how to get there from here. :)
It's great to hear that you think seriously about your money and the future. I'm confident that it will serve you well in the days and weeks to come.
Thank you as well for the feedback! Thank you for your patience and readership as I work to improve!