Daily Steem Price Update 2/5/2020

simonjay (78)in #steemit • 6 years ago

Good day Steemian welcome to today's Steem price update for 2/5/2020.
I have been posting the Steem price update since almost the very beginning of Steemit.com.
Many have came here to discuss the daily Steem price's and changes for over 3 years now.

I also want to mention incase your wondering that when something doesn't seem normal from the other regular "Price Updates" that the daily Steem price posts do occasionally change their format from time to time.

But regardless of changes we will carry on as usual and by this I mean knowing the price of Steem as it's important for your daily plan or strategy.
And even if you are not planing to do anything with your Steem I still recommend checking out these updates and so keeping an eye on the price.
So without further ado lets take a look at today's Daily Steem Price change for 2/5/2020.

Should you be trading with Steem today...?

🌍

💕❤️💛💖

It's a new month lets see if things improve from all the covid19 madnes as there seems to be a turn around when it comes to covid-19 in some places, with each day more loosening-up their regulations but is it all abit back and forth? As for us we still continue in a lockdown and I have been working all during this crisis because we are owned by another company who deals with food. Like many of my colleagues who have already stated, it's like they are using a loophole in the system to keep us all working. We are of course not pleased by this move, nor do we produce or sell any essential products. It is rather infuriating that we continue to put not only our own lives at risk but the lives of our family members and of others, for what? The sake of company profits?! The company denies that this as anything to do with making a profit but rather it is to keep people's morals on beating such a crisis. But if that was the case then we would of liked to see the company paying us some extra during this tough period. This would of been a better move than simply forcing us to work or face losing our job, and yet this is all despite our government already stating that all non-essentials work places should be shutdown. When will it all end? I don't know really, but the media as put out a date for the end of this month so let's see if this is how things will play-out. But that we might have to wait on Mr Bill Gates🌍 to create a vaccine that as barely been tested, before we can fully put an end to social distancing.. but I rather not have that vaccine to be honest. 🌍But if it's not that there is also always something else going on around here with STEEM. There was SoftFork 22.8888....? which Steemit INC claims was to give Steem back the power to it's community, which hasn't really fully happened. Still they have moved on their focus to their "100 days of Steem announcements". The new ownership of Steemit INC managed to force many in the community to fork the blockchain into a sister chain. Whether or not it will be the Steemit successor.. that I believe is still to yet be seen as Justin said he would continue working into making STEEM a success. Ned is no longer the owner of Steemit INC and many millions of STEEM are held by the Steemit INC accounts, the promise at the time was that the main Steemit INC stake would be used for the on-chain development costs only. There was enough Steem Power within the Steemit accounts to knock out Witnesses and replace them. When Tron bought Steemit INC many were worried that Tron could take over the blockchain and force a token swap and so the action decided by the Witnesses to prevent this was to temperately freeze their STEEM holdings. Tron's response to this move was to gather from big exchanges who hold much Steem to have enough POWER for Tron to then up-vote-in all it's own witnesses. This replaced the balance of power making himself in-a-way a "dictator" of all thing's Steem. The Steemit account holds a huge amount of Power anything that account does will eat a big chuck of rewards and it's mostly drawing Steem into one place, this makes it potentially more risky to invest in STEEM if in the end Steemit decides to sell some of their stake. But the sell off could be a good thing if only enough people want that Steem. Perhaps this whole thing as demonstrated that Steem atleast for now is still unfortunately not as decentralised as what some of us would of hoped for, but still I think it's steps ahead 💛 of our current day capitalism.

Many had rightly predicted that the Steem price rised in February, this seemed on track to happen regardless of the move from Steemit INC being sold over to Justin. The price did rise but many complained it was only a small bump, still those with some SP behind their accounts they noticed a difference in benefits for having some skin in the game which is why with Steem so cheap it would be a good idea for those who are below Dolphin to get a little more.

My goal 💕 is to reach 💛10.000 SP, I have been on here for over 3 years and have never powered down once, meaning your votes are safe with me and help retain Steem's value. We totalled 7.841 SP at the end of 2019 so if you want to help me in finishing this quest to lock away 10.000 Steem Power and retain more of Steem's value please consider leaving your best vote below. Still with everything that is going on now with Hive who knows if Steem and even Hive for that matter will still have any opportunity to see the light of some success, still it's fun to have plenty of SP to play around with, so I would still recommend buying some.

In 2020 Steem's lowest was already better than in 2019 but due to the crazy events that happened on Steemit it seems like we actually had it good back then. As after the selling company events we saw a nasty fall to it's lowest in a long time at $0.09 but followed by a mystery spike of STEEM which unfortunately didn't last long, this was on March 19th. Steem reached $0.40!💛 which would of made me very happy if it had stayed there. 🌍 As for the mystery spike it could of been people buying up STEEM for the HIVE airdrop but who knows why really. Still we are seeing slightly better days with Steem holding around mostly at $0.15 as for example we have not fallen to $0.13 since march 18th.

This still leaves in 2020 the current price of Steem nicely cheap to buy-in a good amount of Power for your account, yes to those who can see it's potential benefits or to those who want to have fun with more SP or of course to the ones who believe STEEM can still pull out of this mess, the mess that so many on here have been responsible for.

Anyway as for Bitcoins it was back on February 24th that I believe we last saw Bitcoins at $10000, then on February 24th was the beginning of a Bitcoin downwave which showed its-self on March 13th taking Bitcoins down to $4225! But since March 19th Bitcoins had stated to see better numbers we saw them going above $5500. March 30th became the lowest with Bitcoins at $5800 and so far since then it's being going upwards, and yes that is despite this covid virus. As for the SBD's they went above $0.70 on Jan 18th it had been a while since SBD's were stable that high but still we had not seen $1.00 worth of SBD's since Jun 28th in 2019. But finally on Feb 13th we hit $1.00 we can't deny SBD's had been doing relatively well since getting past that Bitcoin drop which is when it started staying mostly around $0.70 and later we even saw them going up to $1.24 on March 19th during the sister site hardfork mess. Now I might of missed something but since April 3rd SBD's have been holding really well and are said to continue to do so for a good while. There were a few people who seemed to know this was going to happen but I don't know how or what exactly happened for SBD's to stabilise so near the $1.00 mark, but it's where it should of been all along. It's only a shame that right now it's so difficult to earn any SBD's due to STEEM being so low in price.

TRON Owns Steemit INC.

With the sell over we know that the development team mostly all quit so what would happen to all the hard work already done towards bringing out SMT's for 2020? From what we can tell SMT's are still going to be in the works and released in the future sometime. Justin did atleast give out the order to launch communities💓. If your still curious about the benefits of SMT's the whitepaper is still the most authoritative reference for understanding what they can do for us. But the best way to think about it all is it's like giving users the ability to create their own Steem-like-tokens and so colonising the internet. As of right now alot of extra Steem is still floating around because of initially the SBD conversions and now other users selling because of a worry Steemit will sell their stake so many are still converting their funds to the sister blockchain. In the past projects for Steem could receive a delegation since the change it still seems some older Steem related products are getting support but on a lesser scale. Instead the delegations are to be distributed to other accounts created by Steemit INC with the intention of handing those accounts-out to applied users who wish to curate others. Steemit INC as done away with it's advertising model, this was to improve the users experience on the website 🌍 and while I think this is a great move 💛 perhaps we could do with the money in this current state of low price situation.

If your a business or interested in marketing and finding a community of active users thanks to this wonderful platform I would advice you to invest in some STEEM Power first to gain more trust and viewer-ability withing the STEEM community.

Always do your own due diligence the above is only a opinion.

Secretly Win a %80 Upvote With over 9000 SP From Me
You can win the Upvote by simply doing ALL 3 steps below..

Upvote the post at %100
Write on the comments box "Done"
And finally answer the question- Will Steem go up or down within the next 22 hours?
There will only be "one winner" but hurry you have 22 hours for placing your valid entry!