Steem Daily Forecast 08-07-2017
Daily Overview
Price
Posts
Daily Payouts
Macro Events
HF 19 has been mostly positive.
Minnows now have more influence on the platform, feelings surrounding the platform remain positive.
Users have expressed discontent with self-upvoting which at the moment can offer users doubling of their SP within 6 months if upvoting their own posts and comments each daily with their daily voting quota.
Technicals
The price has come back down after a terrific start to June, currently the price is testing the previous high close of ~63,000 Sats.
I expect the price to bounce off this previous resistance now turned support.
At time of writing, it has bounced from ~55,000 sats which will now be the LOW on the daily time frame.
We are currently below the MONTHLY pivot and I expect the bounce to test the pivot before deciding to break through it or continue the short term down trend.
A break and close above the monthly pivot of 69,500 sats will signal a BULLISH continuation of trend, whilst a break of the LOW at ~55,000 sats will signal the beginning of a trend reversal and the beginning of a medium term BEARISH trend.
STEEM is now largely coupled to the performance of BITCOIN. Gains in bitcoin resolve to gains in STEEM and vice versa.
Steem daily forecast is updated daily. Format is yet to be set in stone. Please upvote follow and resteem
~Bateman
Steem needs more projects. Looking forward to Zappl but a Youtube like steem project would launch Steemit in the hights of social media. The price will also affect the quality as it already doing that. 5$ Steem would create an amazing community. It just takes time and patience. Next year will be interesting for Steemit.
Like with anything that is good. Sustainable growth is better than bubbles. Steem is showing traits of slow sustainable growth. It is currently on a healthy pull back.
More utilities as you mentioned would help with the overall interest of the platform.
please copy
The price of steem must go up soon
It is neutral at the moment. Healthy retracements in the short term will lead to higher highs in the long term.
I trade on the penny stocks, So i have an idea about what will happenn and i'm sure that the price will be not go down then 1.5
It's best to stick to technicals, black swan events can and do happen.
I think no coz we have 4 Support level on the 1.5
If bitcoin price falls to sub 2000, we already break 1.5 usd. Prices are determined in the STEEM/BTC pair and not STEEM/USD.
I was talking about steem/usd
Like i said, the STEEM price is coupled to BITCOIN. A sharp fall of BITCOIN price will automatically drop the price of STEEM/USD which at this point is a synthetic pair because it has no active market.
This comment has received a 0.15 % upvote from @booster thanks to: @hamzaoui.
This comment has received a 0.15 % upvote from @booster thanks to: @hamzaoui.
This comment has received a 0.15 % upvote from @booster thanks to: @hamzaoui.
This comment has received a 0.15 % upvote from @booster thanks to: @hamzaoui.
Ive noticed that my upvote has come down in value to about half of what it was immediately after hf19. Are devs adjusting our power downwards or is it just steem price correction? even if it is... steem price hasn't come down as much as my votes value has?
The reward pool was higher immediately after the hardfork. This was due to the experiment which prohibited whales from using their full power.
Initial payouts and rewards were higher as there was an "excess" of funds in the reward pool.
Over the coming days and weeks, the amount going into the reward pool daily must find an equilibrium with the amount going out.
Devs have no way of adjusting our power. It is the system at work.
Thank you for this I will visit daily. Upvoted. This discontent with people upvoting... do you believe that it will be very bad for steemit in the long run?
I created this today.
https://steemit.com/selfvotes/@yoda1917/steemit-is-coming-to-an-end-say-good-bye-or-let-s-do-something-about-it
The core feature of Steem Power is to have the ability to influence the visibility of content. This means, people should be allowed to upvote their own content, even if it is a comment as it is their voting right. The system is open however, and gross misconduct can be counteracted by the community if they deem some abuse is happening.
How can the community influence anything when most of us are minnows?
Abuse of the reward pool will be counteracted by whales.
Minnows have very little to gain or lose by gaming the system.
How can whales do that when it is liberty to self vote. And aren't the people abusing the system mostly whales?
It depends on the severity of the offender. Whales who abuse the system are counteracted by other whales if they deem it to be unhealthy. Actors in the system damage their own stakes by continued abuse. The ones affected most are the whales because of their large stakes.
That is true.... I am going to write a post about this conversation. Hope you are ok with that
Is there anymore wisdom you can tell me.... his has been an eye opener
I will just share my thoughts about STEEM on the daily. Feel free to ask and I will answer if I have an answer.
This is awesome. Glad I found you for these stats! Thanks @bateman
No problem bro. See you at Wall St.
that's great post keep sharing :)
Daily updates on STEEM price action. Will do more on others if there is an interest.
#Steem to the moon! 😃🚀🚀🚀
Eventually yes, range bound for now.
Thank you very much for this post. I have upvoted, please do the same thing for me to help each other I LOVE STEEM
Cheers.
Thank you for the information. How do you see HF 20 affecting this?
HF20 as of yet has no economic changes to the current model. The fundamentals remain the same. What it does bring is more positivity to the platform which means hopefully sustained interest in investing into the platform.
If HF20 turns out to be a deal breaker in terms of improvements in usability, then it will be the moon.
Steem definitely needs more break out projects, and attract big brother like Youtube to invest in Steem
Organic growth will happen slowly. Breakout projects will also take time. We'll get there eventually.