Steemit valuation at 161 million USD! And why you shouldn't get too excited (yet)

I love this platform but what we're currently seeing in the market is a classic FOMO (fear of missing out). This can last anywhere between a few hours up to 2 weeks, but if we look at the below graph I think we can say that we're near the top for now.

It has gone completely parabolic which is the last phase of a bubble. Things will settle down and it will go lower again, allowing people to buy back lower. I'm not trying to be a negative Nancy, it's a classic trading pattern.

After the blowoff top, don't get negative, we will settle higher than before and the same pattern will keep repeating itself in the future. This is an awesome product / community / project.

Good initial buy back price will be somewhere between 75k and 100k satoshi's. Just don't get burned trading, it's always safer to hold the coins / tokens / rewards of a project you believe in than to sell and try to buy back cheaper. If you trade, you're opening up yourself for risk. But also never invest anything you can't afford to lose.

I love this project and the community, it's really great, positive and will in the future have a place up there right next to reddit. (If the dev keeps working as hard as he is now ;))

Remember: we are still in beta and the true valuation will become clear after the project officially launches.
Reddit is currently valued at 4 billion, we have a long way to go.