Mayday! Mayday! Steem is going down!!!
(Socrates)
Are we in the middle of a huge Downtrend?
While Bitcoin is climbing up to new all time highs within the last days, it seems like Steem is going more or less in the opposite direction. At first sight those are good news as it somehow indicates that Steem isn´t linked to BTC that much anymore but on the other hand side it´s a little worrying at the same time…
Whenever you take a look on the current chart since the day Steemit started, you´ll see that it looks like we are just going through a similar huge up- and downtrend like last year. In regards to the recent public exposure of the CryptoCurrency market it´s possible, that all the short time Investors or get-rich-quick people move their funds to BTC right now instead of holding Steem or other coins.
The Situation for Steem and possibly the whole CryptoCurrency market is in my opinion just too similar to the one from last year. First there is huge attention pumping up the whole market and then all the short time Investors withdraw their money again. Just this time it seems like they park it on BTC instead of converting it to fiat again…
What will Steem be worth at the end of this year?
In regards to the CryptoCurrency market we might all agree, that not a single person will be able to know how it´ll look like at the end of the year. But at least we might take a guess on the token we all love, our good old Steem :)
So where do you think that the value of Steem will be at the end of this year?
(A Proud German Ambassador from & for #Teamaustralia!)
I think the dip is exactly for the reasons you mentioned. People are seeing Bitcoin shoot up and are cashing out to jump on that train, when Bitcoin starts to fall I bet we will see an uptrend with Steem. I hope so, anyway!
In case Bitcoin starts to drop, then it´ll drop hard this time I guess...
$2.50!
Viva la Steemit
I would definitely love to see it there :)
$0.70
It could happen. Then I'll use my Christmas money to cash into STEEM!!
I agree, I'll use my kitchen budget to buy some. Feed my husband veggies everyday.
Ah, veggies are costly. Better feed plain toast and water, then you may afford more steem ;)
Funds and investors are cashing out altcoins to BTC, hence the surge in prices. As for Steem and the future is anyone's guess but considering the rapid developments in blockchain applications with such a diversity of ICO's , it is possible another competitor with more robust features will emerge and replace Steemit in popularity. Similiar to Myspace post Facebook. I think it is highly possible a new and better platform will emerge and due to it's popularity will replace Steemit in due time. Nothing lasts forever.
This is possible unless the development of steem and steemit picks up. There is so much room for improvement and the development is slow IMO.
Hasn't Steemit been around for a few years? And it's still in Beta... I still think it's a great platform, but definitely slow development.
Yes, it has. However, we can't rely on the early success. Many competitors are/will be entering the market.
True words, but new platforms will have a hard time getting into the market as they´ll start with very low token values compared to Steem and SBD. But let´s simply enjoy this great platform and try to get it out there into the public :) You´ll never know what´s going to happen tomorrow anyways ;)
Agreed. Might as well milk it for what it's worth. Steem like much of the crypto market is volatile and so many are riding this ship for monetary gain, so definitely make your mark now while it's still hot.
Well take a look on the market cap. That's just peanuts compared to anything else out there. So cashing out today might leave you behind on the big rise of the cryptos ;)
I love the slow times... cause people like me are pickin up these coins why most people stare and complain about the price lol
Oh yeah @stackin, you name it :) Buy low, sell high that´s the best you can do ;)
Staring never got anyone anywhere...
You pretty much said exactly what I think the cause is. Lots of inexperience, short term, and "get rich quick" investors are cashing out on alt coins to jump on the BTC bandwagon. It should stabilize in the near future but with all the talk about a BTC correction, who knows what will happen. In times like these, it's just best to hold.
I´m just curious what´ll happen, in case the short term investors really get out of the market. It´s very likely IMO, that there will be a drop sooner or later whenever the media doesn´t push the cryptomarket into the public that much anymore...
why is going down? I don't understand
I'm keeping my fingers crossed for STEEM.. There is more to grow for this platform. Good observation.
I guess it should be around $1.25 around year end.
Upvoted & Followed you...
1.25 would be a pretty solid price. Actually it´s always close to this value with some ups and downs the last weeks.
The crypto world ids so crazy at times you can never be sure whats gonna happen, for people who are new to steemit it a great time to buy some steem
Definitely. There´ll maybe not be any chance to get some steem for such a low price in future. But like you say, we don´t know in this crazy world...
Steem is a solid coin, however steemit seems very meta-oriented and therefore I predict it will be at 3500Steem to 1BTC. The advancements in development could boost it a little bit, like 5-10%, maybe even 20%. The biggest question is can we focus on discussing all topics more broadly, and not just talk about cryptos and steem itself? That would boost the price a lot.