Yes, from a psychological point of view it's harder than buying something which is going up in value. And there's no guarantee the price will eventually turn around. But the old saying "buy low, sell high" comes to mind. Too many people seem to be doing it the other way around... and with high risk comes high reward.
I find it helps if I buy with money I don't care about losing. If I bought, say, $5000 worth at once, then I'd be pretty pissed off to see Steem subsequently drop by 50%. But if I just chuck in a couple hundred bucks every now and then, it doesn't feel like a big deal and I can just forget about that money for the time being.
It could also be a case of throwing good money after bad though.
Which is another good reason to never go all in and keep your buys small. My Steem Power holdings are roughly 7% of my entire investment portfolio. If the whole thing goes bust, losing that money won't affect me much in the long run. It's all about risk management.
Replying here due to 'nesting' restriction...
Agreed. I have committed myself (and plenty precious time) to Steemit and Steem for two years so I am basically 'all in'... but I have only spent a small bit of BTC on purchasing Steem. Here is hoping it takes off ....