STEEM: Imagine...
Do you remember the glorious days of early January 2018?
Yes, those days when the market was at its ATH...
Those days on which BITCOIN was priced more than 16000 USD, ETH 1100 USD and EOS 12 USD?
At that time STEEM was placed, at the 36th position of the Total Market Cap.
The price was 6.41 USD and the Market Cap was 1.58 B$...and that was not the maximum price achieved by STEEM since it touched the 9 USD mark...
BITCOIN had 276 b$, 174 times more than the STEEM Market Cap at that time.
What a craziness, isn't it?
Do you think those times will eventually come back?
I am fully convinced about, despite I'm not sure about the price at all, they will come back.
At that time there were less competitors...now we have more Social Dapps, running on EOS as well and so, it makes much more difficult to reach that level of price... or maybe I am wrong?
From time to time I like to check this chart:
It is the Logarithmic Daily Chart of STEEM. Below you can see the Volume Flow Indicator...When this indicator crosses the mid-grey line it used to mark a change in the Market...
It did so on May 2017 and then again by the end of November 2017... Now we can see it again, willing to cross that line...
Regarding the upper trend-line in blue, it is pointing to the 24 USD... Honestly, I think it is unrealistic to reach that line...
With the current supply of STEEM, 313.613.021 STEEM, to reach that price of 24 USD would mean to have a Market Cap of more than 7.5b$...the current market of Major Cryptos as LITECOIN or EOS
That would be 30 times the Today's STEEM market cap...
Could that happen again? Yes, but for that to happen again we need really a massive entrance of FIAT into the Crypto Market...and if we apply the same proportion with BITCOIN as it was on early 2018, BTC Market Cap/STEEM Market cap = 174 times , Would be possible to see BITCOIN at 1.3 Trillions?
That would be BITCOIN price reaching 74000 USD....
Buff...
How do you feel now? Is it possible? I think it is possible...but not in short time.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
is the scenario that we all want, atm I'm obsessed in accumulating btc
It probably won't be next week, maybe the week after ;)
yes, very likely ;-)
👍
I concur. In 2 weeks time, probably Sundayish.. :D
Maybe haejin would get a few commenters on his posts again when we reach that price.
That for sure.
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I see! Thank you very much @pennsif !
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It will Indeed
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And the eternal question is, when?
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Well that's it for the traders (like me) but also in holder, so it might take at least 2 years
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That’s short term! Bravo!
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Nothing is impossible as the amount of demand that can change instantly with the right catalyst. I think the next bull run would be more tamed in general and less broad as projects will need to prove their value and adoption to outperform others thay will continue to fail.
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I think it's incredibly hard but definitely possible. I would get drunk as fuck if it did. :D
Hahaha!
Steem party!
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Sounds damn good to me 🤑🤑🤑🤑
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The time will come ;)
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