Today Waves overtaken Steem

Waves over Steem.png

Dear Steemitians

today we see a very particular situation in crypto market because for the first time this year Waves overtaken Steem in the coinmarketcap as capitalization.
As you know from our past posts, we have connect our crypto Intellihandling belong to Waves due to fact we believe in this crypto currency, but in the same time we always support Steem, which value now is less than 0.8 usd, so we want to find the reasons of this crazy going down of our community coin, what is going on?
Some one with more knowelage can give us some reason in the post comments?

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Normally it has been following bitcoins trends but I think there may be some reason behind it. I think it is because of the steemfest. Steemians are selling their SBD or Steem to get the expenses for their trip. Basically it is because of the oversell of Steem/SBD. I think we should maintain the price around 1$.

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Dear my friend, now Steem value is 0.69 usd, they need to sell a lot to make the trip with such so low value, this is good business?

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crypto is not a business...

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This answer interests me, @sames.

Could you say me, in a few words, what's crypto for you?

Thank you so much!
A huge hug from @amico!

The general situation of the cyptocurrency market is bad and that affects Steem too.

Power down value is higher than power up value, it is likely that most of the Steem obtained from power down is being sold and that affects the price.

The biggest account powering down is @ned, so @mysearchisover may be right.

I think current state of Steemit does not provide enough incentives from new users to stay and write good quality articles, and that reduces the value of the entire platform.

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Dear my friend, your answer is very detailed and unfortunately very true, more of the Steemit community waves should apply to @steem-bounty and we will see for sure grown of Steem value

I would also like to know!! I joined in the slump and have heard legends of steem being crazy high!! Will it ever return is my question??

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Yes my friend, unfortunately we reach this market when there was the biggest bubble, comparing to january, Steem lost 5 times value, but what is my doubt is will Steem stop loose and rise again? I think its value minimum should be 2 usd comparing of Steemit value....

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The only good thing i see about is it right now is that we can power up quicker. Get more worth for our work!! So we should definitely take advantage of it while me can!! Maybe when steem skyrockets we will be in a better position to reap more rewards then!!

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Dear my friend, of course this is a way to make Steemit stronger, but so why we are looking Steem going so down?

The crypto market has been so weird lately.

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So what is your idea to make Steem and Steemit better in this bear market?

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I personally don't know, what would help STEEM.

But help for steemit would be fixing the trending page.

Maybe get some admins to filter trending page.

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I think , Some big whale is going to power down and
transfer their steem..

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Dear my friend, do you say it because is your tought or do you have some evidence of it?

Don't worry !!!
Be cool man. Hope steem come back agian

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Dear my friend, i am happy to see your optimism, but what do you think of present situation?

hi friend how are you, is it good to go higher than the steem? and how could that new cryptocurrency that is above the steem be earned?

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Dear my friend, Waves is not a new cryptocurrency, they have good base and they are one of the most profitable dex exchange in the market, so i think they deserve to go up, but i do not understand why Steem is going so down with all our community who love it...

Well, looking the Market as a TA, i see this behavior very natural, im specting to see a grow of the community and the capitalization by Nov, but i could start in October.

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Dear my friend Saul, i hope so, we deserve Steem goes up as we love it!

Take it normal..
All cryptocurrencies are going to same situation....

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Dear my friend, yes you are right in this bear market, but why all other crypto sometime jump but Steem is constantly goes down? From 4 months ago the value is 3 times less!

Its create very bad effect for steemians also.. But don't be crazy. Wait and see . Steem and all cryto come back us soon.

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Hi my friend, welcome to this community, i hope your optimism will be right....

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May be most of steemians transfer their steem to other currency...

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Dear my friend, unfortunately you are right, but why waves are selling Steem with such small value? This is the low point of this year...

Is that not only the steem is low, the whole market is in crisis. The BTC almost at $ 6,000, hopefully at the end of the year everything will recover and the market will return to the top.

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I agree with you my friend, but if we see other coins, they are not constantly goes down like Steem, sometime goes up and sometime down, so this is strange i think...

Hi friend, I have very little in this of the crypto coins, but what little I have learned is that each crypto currency gains or loses value due to investment, I think the market is very low because there is little investment.
Although things look bad I am hopeful that at the end of this year the Steem gets a good momentum and that for the beginning of the other is kept at a good price, as has happened in previous years with other crypto coins.
Greetings!

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Yes my friend, as you can see from the post picture, the first value is capitalization in usd and this is the problem, instead to put usd to buy Steem, someone is selling Steem to get usd, so this is the situation, not same for all as you can see comparing with Waves in the same bear market...

So true,
Steem is going to down and down...

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Yes my friend, but do you know why? Who is powering down so much?

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I think Steemit is selling Steem. Possibly to pay salaries.

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Dear my friend, which sellary you are talking about? Now value of Steem is not enough to pay any sellary compare with 4 usd which was in the beginning of 2018...

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Steemit inc has employees they need to pay. A million Steem can pay some salaries and they have 44 million in just one of their accounts.

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The reason for that is simple. That's how the market is right now. There is currently not enough demand to buy steem compared to supply of it, so if the seller wants to sell it's coins he is forced to sell it on (slightly) lower price.

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Dear my friend, unfortunately my prediction in my post of 6 months ago are coming true..:(( https://steemit.com/steem/@intellihandling/steemit-is-right-investment

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Maybe you should not look at dollar value at all, but just look at the volume of your SP/STEEM/SBD. You will feel better! If (or when) the price is up again, you can sell the coins.

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Dear my friend, i do not need to sell the coins, i just would like to really earn in this platform, but only after i know @steem-bounty i feel again well about Steemit, if you haven't yet use it, you are very welcome to start...:))

Many of us have felt frustrated, because the price of Steem has dropped a lot and continues to fall, but we should not worry about it, nor abandon Steemit. In the world of cryptocurrencies this happens frequently.
Now, the price of Steem, this year 2018, had not been as low as this month of September, only in April was at 1.47 USD but this month has broken the record.

Despite these highs and lows, the Steem cryptocurrency remains for many registered users on its web platform, as one of the most profitable currencies, and it is due to this reason that it continues to decline, it is very receptive, since its website It is a Social Network that allows us to express ourselves and place information of interest.

However, when the price of the Steem goes down, the value of our vote and our posts will decrease and therefore our mood also decreases, but when it rises, these values ​​will rise. So, we should not worry, since the Steem has a good expectation for the next months.

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Dear my friend, of course if Steemit was full of good people like @knircky and @famunger it would not be in this condition, but most of whales and orca selling their upvote as bot to get more profit and every plancton remains like it is, because the small you got as profit, curators take it and nothing remain, so this is not matter of value of Steem which could be higher, but by the people who govern Steemit and do not want make any changes on this platform and unfortunately my prediction of 6 months ago is coming true...:(((

I'm not following very closely, but I think WAVES had a couple of important annoucements recently! Whereas there is pretty little publicity from the Steem team....

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Dear my friend, of course Waves is not start up coin, but i always seen before Steem 10 position upper in coinmarketcap, but i do not understand why this is bear market more for Steem than Waves which overtaken it?

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Yes, I hold a bit of waves. I was saying that it has had a few announcements recently (in the last few days I think) which would give it a bit of an upwards boost. Meanwhile, Steem makes no announcements at all, which means no boost!

It's sad to see it. I know that all of the markets have been following bitcoins trends but STEEM has taken a big hit in the past month. I still fully believe that it is one of the top blockchains and undervalued but it's sad to see the price being so low. I'm still going to try and accumulate as much STEEM as possible because i know that the price will be up again but i don't know how long that will be.

The worst part for me is that we used to be number 28 in terms of market cap so it is a worry to see us drop down as far as number 38 which suggests that we are losing more ground than a lot of the other alts.

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Yes my friend, i am sad too to see it and now all people who pretend that Steem will be the new Facebook are silent or disappear. I travel back on past months comments and i saw many people who was active abandoning their Steemit account even with some Steem inside, that means they become tired of this place, what do you think?

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I think people were loving it when they could make 30 dollars very easily when the price was 5 dollars. Now that it takes effort the appeal isn't there. For me I love the site anyway so the price isn't my main concern but it was for a lot of people. I have no doubt that'll we will get back to there so I am only thinking about growing my account as much as possible while is is easy to accumulate steem. That is how a lot of the whales and orcas did it before and were in a great position when the prices went up.

You need to have a long term mentality for the site and not worry about the price day to day. When steem hits 100 dollars in a few years I want to be sitting on 10k sp while those people are coming back to try and cash out there 60sp from now.

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Indeed,
I think, day by day steemit community going down and for this steem goes down

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Dear my friend, do you say it because is your tought or do you have some evidence of it?

As far as i heard, it's because of decreasing price of bitcoin.
I'm not sure about that but I've heard from some friends that if the price of btc increase then the price of steem will also increase.

let's not lose our hope.
it'll increase again.

similar situation happened earlier also.
let's hope for the best.

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Dear my friend, is not so simple as you say, because BTC value never brake 6000usd, but Steem today is 0,67usd, in position 39 of coinmarketcap and now capitalization is less than 200.000.000, that means there is another unknow reason of its fall down

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yeah there might be several unknown reasons.
just hoping the price would go up again.

The crypto market is a volatile one so I don't think anyone will have the answer to your question. Steemit has so much potential to be huge it just needs that right push.

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Dear my friend, if we are talk about market we can see it is volatile, but Steem is not just volatile but it seems the gost of very strong coin there was few months ago...:(((

It has been the case that the alts were “pegged” to BTC, but BTC is holding and all the alts are in free fall... I think a lot of it is fear dumping. Not sure exactly what started it, but the break occurred when the SEC denied the ETFs a few weeks back.

All this means is that weak hands will get shaken out and we’ll get that much more gain in the next bull run (which will come, eventually, with certainty).

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Dear my friend, SEC denied ETF on Steem based? Because it look me strange that form the main cryptos is the only one have lost over 10 position in coinmarketcap....:(((

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No, I was just saying that appears to be when the alts started diving and BTC dominance started to grow more rapidly.

I see so many posts saying how bad this is, it's a bad day, huge whales selling out, etc. But for someone like me who has only been on Steemit since January, THIS IS GREAT! I can't wait until STEEM hits 0.30 cents! It would be a fantastic second chance to boost my account, and I happen to think I am not the only one that feels that way. But that's just the state of the market, it's classic supply and demand fundamentals. Personally I think @intellihandling, you might not be looking at the bigger picture, the state of the altcoin market has been bloody but that will change soon, so why not start accumulating?
From what I can see, STEEM still hasn't actually broken it's current support (which I believe is about 0.60 to 0.55 USD), so there is a chance for a rebound but I do see that more than likely we are going to 0.30 USD. On the other hand! If you are trading STEEM to Ether (like myself) than we are actually doing quite well indeed ;)
This is all just a matter of perspective, take a step back and try to see opportunities hidden in plain sight, rather than finding a reason to point the finger. Just my 2 satoshis :)

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Dear my friend, i think we are in the same condition, joined Steemit in the best time of Steem and Steemit but with luckly not big investment done before.
Let see if you are right, of course at 0.3 usd it will be very convenient, but are you sure that after will not going into shit coins, than disappear?

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Of course, only time can tell. I am not quite sure what you mean by

are you sure that after will not going into shit coins, than disappear?

If what you mean is people making a quick profit off the sale and exchanging those profits for shit-coins, then sure, I can see a small minority making a bad decision like that. On the contrary, with the update to HF20 next week, SMT Testnet for the new year, and full release of SMTs scheduled in March 2019, I find it incredibly hard to believe that the majority wouldn't at least hodl until March and make a small portion sell-off for profit.
So if all goes well with the new features coming to STEEM, it's very possibly to see this token rebound off of the .50 support and back into that comfort zone of 0.8 and 1.5 until the new year.

Worst case scenario (my opinion):

  1. Newcomers don't get the opportunity to pickup this coin on a flash sale
  2. Price jumps up because of SMT anticipation but the devs delay it (again)
  3. Price plummets

Likely scenario:

  1. STEEM FLASH SALE, but it won't last long so get your bids in quick!
  2. HF20 rolls out successfully adding new features and optimization
  3. Price corrects to reflect the update
  4. SMT Testnet releases in January 2019
  5. Based on the results of the testnet will determine full release schedule
  6. Profit

Buy the rumors, sell the news. I happen to think that wallets both big and small are aware of the potential of STEEM technology and are currently in the process of "buying the rumors". But only time will tell how the real scenario will play out, I can only say what I observe the market doing, and as I mentioned before, it's not a bad idea to consider STEEM/ETH trades alongside BTC and USD. STEEM/BTC is doing pretty poor if you're trying to accumulate using BTC or USD, but the mackdaddy of smart contracts chains on the market is sinking like a millstone in the ocean and making STEEM look beautiful ;)

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Dear @joeohs, i am amazed about your comment, very detailed and professional, are you trader? What i was talking about like going to shit coins, means that Steem will lost his credibility with so low value and this coin will be sell at all than disappear, maybe this is apocalips scenario, but i am worry about it...:((

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Yes! I do trade cryptos, not necessarily a "day-trader", but I dabble. I do my own charting and compare my charts to other chart ideas to look for patterns. If I really like a project (like STEEM) I'll read the whitepaper, do more research, etc. So, from what I've seen of the STEEM blockchain, I wouldn't be too worried. On the contrary, I see the STEEM project becoming a top 5 token, barring it's consistency with optimization of code, meeting roadmap deadlines, witness selection and support, etc. etc. This token is essentially creating its very own content based, social-media style economy, complete with awesome dApps like @dlive, @dtube, @dsound, @nebulas, and on and on. This token is here to stay. Thanks for hearing my opinions and I wish you the best of luck fellow steemian, let me know if I can help in any way. Take care

Lamento mucho el descenso tanto del precio como de la posición en la capitalizacion en el mercado, porque tengo mucha esperanza en esta plataforma, ademas de fe que se va a recuperar. Creo que detrás de todo esto, y la tendencia bajista en general que han tenido casi todas las criptomonedas, hay algo mas allá de lo que podemos saber, pienso que hay grandes empresas jugando a que las criptomonedas caigan, porque es lo nuevo en el ámbito financiero,en el comercio, y con el surgir de todo esto, hay muchas empresas que están declinando sus ganancias, porque funcionan de manera tradicional, y se les hace mas fácil buscar la manera de disminuir el uso de las criptos que adecuarse a lo nuevo, no se, es algo en lo que he pensado.
También he visto un efecto de separarse de steemit, porque los precios han bajado y las ganancias han disminuido, el precio lo hace menos atractivo, y sabemos que las cripto tienen un valor partiendo de su utilidad, la salida o el desuso hace que su precio siga bajando...
Es una humilde opinión.

Waves:

What happened with Waves platform is easy. The smart contract functionality was released on the MainNet and they are even discussing with Maltese government. They partnered with Ledger and they released this marketplace named SIMDAQ on waves platform (more at: https://medium.com/waves-lab/launch-of-simdaq-a-powerful-marketplace-and-ecosystem-based-on-weves-token-6b9f9c45801b) ICOs started happening on the platform and they have almost as many transactions as ETC happening on chain while barley using it's full capacity which was 100 Tx/s the last time I checked. All these things happened within a week. So don't be surprised about the price movements.

STEEM:

This is a little complicated. Because we are a social media, a lot of the talk and hype remain within the platform itself. Most people don't get the word and many are not aware of the technological capabilities of DPoS.

On top of that we have a limited amount of exchange listings and we tend to get overshadowed by EOS. Then there are bloggers who simply cash out on their earnings. Other platforms tend to attract investors for the most part. But we have lots of non-investors who are simply making a few bucks.

The only way for STEEM to breakout is for the DAPPs themselves to break out. There is a lot being built on STEEM and Alexa rankings are improving over the months. So keep calm and HODL. Take a look at http://www.blocktivity.info and take a look at marketcaps STEEM could be worth $100 and it'd still be fraction of Ethereum's All time high.

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Thank you my friend for your comment very detailed and professional, it will be great to have you in our Steem-bounty family, you will be always welcome....

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Thanks for the compliments :-)

In my opinion waves and steem are both undervalued projects that should be Top 10 coins. Thats why I don t worry about waves overtaking steem. But whats this Maker thing ? I don t think this should have more value than Steem :(

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Dear my friend, i completely agree with your opinion about waves and steem, thats why they are my preferred coins, regarding Maker is the not only coin who do not deserve to be more evaluated than Steem

The main reason for low price is still unknown, people are just giving suggested answer

Es lamentable que este tan bajo, pero mi esperanza es que empiece a subir.