BTC or Steem Power?
So we've had a couple of down weeks in the crypto markets, and of course no one likes that, but I've got an interesting table and chart for you.
Pixabay License, source
According to daily closing prices, today was a special occasion. On all of the time scales that I track, STEEM has had as many (or more) up days as BTC during the last year. This isn't the first time that I've seen this, but it's the first time in recent memory. Let's take a look.
| Time Scale | Up Days for STEEM | Up Days for BTC |
|---|---|---|
| 30 Days | 15 | 14 |
| 60 Days | 31 | 28 |
| 90 Days | 47 | 45 |
| 180 Days | 97 | 95 |
| 270 Days | 141 | 137 |
| 1 Year | 193 | 193 |
Also, on this date last year, BTC's price was $18,264.99. Today's close, 47,243.31 represents a gain of 158.66% during the year. In comparison, STEEM's price on Dec. 10, 2020 was $0.1651. With today's close of $0.4464, that's an increase of 170.38%. Add to that the fact that staked Steem Power generates interest and curation rewards, and the last year's winner is clear.
Also, here's a graph of a toy metric that I made up to compare BTC and STEEM, based on their day to day direction of movement (up or down). Basically, "1" means that they have had similar performance over the last year; above 1 means that STEEM had more up days, and below 1 means that BTC had more up days. For almost all of STEEM's lifespan, it has underperformed in comparison to BTC. The only times that STEEM has scored at 1 or above are from April 23 to December 8 in 2020, and today.
No guarantees for the future, but today - at least, Steem Power gets bragging rights. During the last year, we'd have done better with our holdings in Steem Power than in BTC. Let's see what the future brings.
Check the #penny4thoughts tag to find other active conversations.
Update: Percentages were corrected. An earlier version of this post contained a transcription error.
I like to trade with steem most from my 2019 when I first join on binance. And if I say about my experience on steem trading is too good. If a trader focus regularly on steem market, he must be able to take a noticeable advantages from ups and downs of steem price. But I think investing in btc a small amount will give you little profit. That's why I always focus on steem than btc. Steem is king.....
with these numbers, it is absolutely clear that, STEEM has not dropped drastically nor has it skyrocketed significantly in this year, however, compared to BTC, it is clear that STEEM is ahead in a matter of a year, from 10 December 2020 to 10 December 2021 , this means, STEEM investors are profitable, and it's absolutely true, one of the advantages of STEEM with BTC is because there is a lot of STEEM power at stake, especially recently with the splendor of the club5050 club75 and club100 campaign
If they have behaved on par in terms of percentage, but to add a bit of humor, I would love for them to match in price hahaha ..... I hope that with the strategies that are being used on the platform with #club5050 #club75 and #club100 will achieve the goal.
Investing on Steem power is more profitable than BTC. You really got two important point of Steem power. Holding Steem as steem power is better than holding any other crypto, because of curation rewards. Thank you.
As a trader with small capital steem is a good choice. Steem streghening or correction is not significans.
All time high of Steem is $8.19 but Steem price is now only $0.46. I think the price of Steem will increase in long term and It's time to buy Steem and power up to get reward from vote for now. Thank you.
when we see the price at 1 year, it proof that steem is more profitable than btc. And SBD also...
Is there a chance for steem to go up?
I certainly hope so! ;-)
Exactly, the SP from the point of view of our platform is always much better, as long as it is seen from that angle. Thanks for showing us that good point of view.
The cryptocurrency market is very volatile, it is something that we cannot control, but if we get some advantages at the right times, for example, the current price of the steem is in promotion, I have made several purchases, while the market is in the red , I buy, I have no panic, on the contrary, I try to buy at good prices, save or in this case make POWER UP