STEEM Continues Market Independence -- Pulling Back
STEEM looks like it's still being independent. This time, we're seeing a pullback while the rest of the markets are flat. This is natural though, after STEEM has had such a great bull run (look at those volume bars!).
Ideally, I'd like to see support established around the $0.35 level. This would indicate that the previous resistance level is holding, and that bulls are very likely to show up again. I mean, in all honestly I'd still love to see STEEM at $0.10, but that's for my own greedy motive so I can load the "F" up, haha. I love STEEM, and am very confident in it longer term -- hence why I want to get a ton more cheaply.
Technical indicators indicate bearish pressure though, which is all healthy. Nothing to be worried about now at this point. The only real thing that might be a factor is if/when Bitcoin pulls back more, then it most likely will have a bigger impact on STEEM. We will see though!
Thanks for posting the steem update
thank you!
Steem and bull run? Maybe some little wave. Steem is PoS and thats inflation scheme. It cant go long period up.
Mh you are right on one side, but on the other: When the demand increases way faster than the supply can grow, it's quite possible that it goes up on a long period, isn't it? :p
Yee, but seems no racional switch to buy more steems. PoS vs PoW should be always worse longtime investment, its basic math. Several first guys earns here, but hardly said how much they are + or - in total. Many videos is from period, when bitcoin was on top, so earn every who was in crypto.
And steem is also no regular blockchain crypto. There should be rules set before game. Steemit team can change inflation as they want, so model is close to FIAT. https://www.reddit.com/r/steemit/comments/6t88b0/steem_coin_has_a_100_inflation_rate_i_am/