Is steem one of the best investment opportunities in crypto, or the worst?
Steem is down heavily since the peak high of $9 in December of 2017. We're still down 95.8% at current prices, and were down lower. We need about a 22.7x to get back to the all time high. Steem used to be a top 10 crypto, and if you compare it to any other top 10's, it's down way more relative to it's all time high.
The Pros
The project still has some hype behind it and will continue too. It's considered one of the only legitimate projects in crypto by a lot of people in the community. It has a lot of users and a lot of activity and it's really not going anywhere.
The Cons
It has one of the highest inflation rates in crypto. There are a lot of users who simply dump everything they earn, creating a lot of selling pressure. Steem Inc sent over 35 million steem to bittrex, which has created a massive increase in the trading supply and a decrease in price.
What do you think?
What are your thoughts? Is investing in steem now one of the best opportunities in crypto? Or is it likely to continue to slide down the coinmarketcap rankings and under perform relative to the general crypto market.
Well I need to invest in more STEEM with SBD now in order to purchase more WEED and other tokens, even though I just noticed it says you can deposit Bitcoin too now, so ya never know! I think Bitcoin is going up, STEEM is going up, and WEED, & SMOKE are going to the #moon-rocks! I'm buying all 4 just in case!
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