RE: Top 5 Reasons To Be Bullish About Steem
Dear @gandhibaba
I absolutely love your optimism. Unfortunatelly in a short term I strongly believe that STEEM will dive down and we're about to hit ATL (all time low).
There is just to many users who decided to give up after hf21 and started powering down. @chbartist is an excellent example. No more posts in last weeks and 15k SP being powered down.
Dumping that steem will create enormous selling pressure. right now binance suspended withdrawals and deposits so we're all safe because there is pretty much noone being able to power down and sell their steem. That won't last very long.
I fully agree that in a long term steem has a huge potential to get stronger and token economy isn't as damaged as it used to be. However it may take time.
Lets say that hf21 and hf22 did allow to fix some problems - > "token economy healing process" will last quite some time.
The release of Smart Media Tokens (SMTs), which, according to schedule, should roll out by the first quarter of 2020 will be a game changer for Steem.
I'm seriously wondering how many people out there still believe that SMT will be rolled out anytime in our lifetime :P I am personally full of doubts. If those were same people who launched steem-engine and tribes, then I would have more faith.
Unfortunatelly it's hard to believe in STINC devs. I would expect their product to be full of serious and unresolved issues. Hopefully I'm wrong.
Also it's hard to tell how SMTs could affect price of STEEM in a long term. I understand that we will have to purchase some STEEM in order to launch SMT. But that would be only one-time payment. Any idea how are they planning to play it out?
To wrap it up: I would expect STEEM to go down below 0,1$ within upcoming weeks. There is just to many users discouraged with recent changes and it may be way to hard to balance out upcoming selling pressure.
Cheers
Piotr
That could be true considering the rising BTC dominance, although I doubt if we will see 10 cents and below.
@Chbartist is truly powering down, the same way several other users like @exyle and @anomasoul and even me are powering up. Whether the price is up or down, power downs and power ups will always happen.
SMTs will be a game changer like ETH was for those launching ICOs. Many projects will come on board and they will leverage on Steem.
Thanks for stopping by.
Hi @gandhibaba
Indeed. However it's worth to summarize amounts of power downs to realize that it's increasing right now and those who are powering up will have VERY difficult time to balance out selling pressure.
I really hope you're right :) I'm also quite optimistic about SMTs
Do you have any statistics to support these assertions? @Steem-data reveals that there were excess of power ups yesterday. I am curious.