Yes correct, so we have a lot further to fall then?! When people point that out I am not really sure what they are trying to say. Anyone who bought bitcoin or altcoins in the last 18 months are likely down or very close to being down.
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I guess it depends on how optimist or pessimist you are. I am more on the former side of things (that's why I haven't sold any of my steem)...maybe I am delusional (I hope I'm not).
I hope you are not delusional as well because I am holding much of my steem still as well.