How high will STEEM go during this cycle?
It's been a long time before STEEM saw this kind of momentum, how high might it go?
The last time we saw STEEM trade at these levels was almost 3 years ago.
It was as STEEM was coming down from it's all time highs set back in January of 2018.
Interestingly enough, we may be following a similar pattern to what we saw back then, which also just so happened to be in the year following a BTC halving.
Which is where we find ourselves right now.
To know where we might go this time around, we should look to the past for some hints...
(Source: https://coinmarketcap.com/currencies/steem/)
Back in 2017 STEEM saw a major rally that began in the spring time and eventually peaked in early June around $2.83.
Then from there it mostly consolidated and trended lower for the rest of the year until it exploded higher around December and eventually peaked around $9 in early January.
Some key dates during that rally:
- Started going up around May 6th 2017
- Peaked on June 9th at $2.83
- Started going up around December 6th 2017
- Peaked on January 3rd around $9
If we follow a similar pattern this time around, with STEEM just now starting to go up, that would put a potential peak sometime in very early May, with the absolute top coming in early December or so.
It's tough to say how high it might go, but in terms of total market cap, STEEM would actually reach it's old highs around a $2 billion market cap, which would at a price of roughly $5.30.
So, for those calling for new all time highs, in terms of total value, STEEM would actually reach a new all time high once it breaches about $5.30.
In dollar/price terms, it would reach a new all time high once it breaches about $9.
Personally I think we will see STEEM hit at least $2, beyond that, It's tough to say...
How high do you think STEEM will go during this cycle @steemitblog @steemcurator01 @steemcurator02 @justinsunsteemit?
It looks like $2 is going to be a pretty easy get during this cycle.
I'm thinking $4 is now in play.
I'm hoping for $2. I think it is in position to do it.
Considering we almost got to a dollar already, $2 is now looking like an easier and easier get.
I hope it is easy and that more people FOMO in to chase the returns. There is a lot of competition from various DeFi platforms but this can still be a solid magic money printer.
I agree, $1.50 to $2 is reasonable, anything higher is unlikely this cycle, but hey, I won't be too upset if it goes higher lol
Based on past patterns, it may see that by June and then explode to something higher by the end of the year.
That would be great!
How long the steem price will be depends on how long the bullish period will last. Steem price could even exceed $ 10 if the bullish period lasts too long as in 2017.
Yep, that is certainly a major part of it. If the bullish period lasts all the way through the end of this year, STEEM can probably make new all time highs. If it ends within the next couple months, maybe not.
Who decides to end the bull period and begin the bear period? Whales? Graphics? Is that a coinsidence ?
It's usually kicked off by some sort of very negative news and everyone on the same side of the trade. If everyone is long bitcoin/crypto and then something very negative comes out, there is a lot of room to the downside and that's usually how it happens. Usually after a period of extreme euphoria and irrational exuberance.
Please help me https://steemit.com/steemit/@shital7/my-whole-world-has-been-shattered-just-in-a-day-please-save-my-dad
All altcoins have high chance of growing in the so-called altseason, so STEEM should be no exception. However, I think that Steemit needs to put more work into making the site what it used to be in 2018. There was a lot more activity than it has now... only then it will continue to blossom.
I agree. There hasn't been much development going on, or marketing for that matter.
Remember this guys??
I remeber those day's. I miss so much :)
Please help me https://steemit.com/steemit/@shital7/my-whole-world-has-been-shattered-just-in-a-day-please-save-my-dad