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RE: Why Does Steem Lag in a Bull Market for Cryptocurrencies?
If you are really keen to reprogrammed the bias for you investment advantage.
And you have the grit to power through a super long reply that will make any TL'DR post look like a 2 line haiku.
Try to finish reading my reply about intrinsic value of Steem -oh yeah and it's two part and it overflow the Steem blockchain character limit in a reply, yeah that bad....but I doubt you will make it through, I barely survived re-reading it myself without passing out.
STEEM is slowly sinking down the list of cryptos. Currently dropped to #38 on coinmarketcap.
You do understand that STEEM has lost more than 70% of value in last 3 months, if you benchmark against BTC price. Other alt-coins are losing at a slower rate, so STEEM is on net sinking down the ladder.
There is a reason. The market has looked at STEEM and steemit.com; and does not believe your investment thesis.
You can prattle on about intrinsic value, but the market doesn't believe you.
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You cannot use the logic of value dropping when compared to another asset that has gone up. That's like saying if apple stock has gone up 50%, and if fb has grown 100%, that means apple is now down 50%.
I know you know that.
Actually we are just about to surpass our all time high in market cap, when Steem was top at $4 back in mide 2016, it was >550Million, we are reappraoching it now at $2. The market has spoken, a record is about to be broken, and this is without any bitcoin media hype, with zero marketing, and only pure grassroots growth, nobody in the mainstream or no alt-coin holder is pumping Steem like they are dash, ltc, eos (which is currently being pump by agora financials and stock investors and funds in the last month and half)
Think about that....what will happen when SMT news goes mainstream, what will happen when a new accumulater is done accumulating and starts pumping?
Right now, it's being accumulated, the new market buyers wants to keep this shush so it can keep accumulating.....they all know they can't keep it quite for long when price surpass ether $4 or when the market cap exceed the records continually.
I'm not debating with you because I enjoy it, I value your input because you are holding steem in SP. That gains my respect for you, that is why I am replying.
Just think about it....volume talks, records broken will stand out. I see 2 burst happening in the short term, one about 1 month after we exceed or record market cap, and 2 after we exceed $4.