When it comes to trading, I have this piece of wisdom to share:

When I buy in, it's generally a signal that the market is about to crash.
When I sell, it's generally a signal that the market is about to explode.

OK, I'm being a bit flippant, but in the past I have made some very astute crypto buys. However I didn't HODL for long enough, and just after I sold, the price went to the moon! :(
I bought some Steem Dollars a few weeks ago, when the price had fallen to about $2.30. I thought that would be the bottom of the market. I was wrong. At least I didn't spend any more than I could afford to lose at the time, which is always a sensible strategy... so now I'm continuing to HODL.
I agree that this should be a great time to buy Steem, but a couple of people have said that Ned is powering down, which if true is very concerning. On the other hand, who knows? He could be powering down under the @ned name and buying up under another.
I've traded crypto very sporadically since about 2013, and I've noticed a few big dips like this current one. It happens with the stock market too. At times like this, all the inexperienced traders and the ones who bought at the top of the market panic like mad and sell up. Once they've all been shaken out, the market starts to rise, and rise, and rise...