Why Steem Power is Appealing to Investors
I'm back with another market insight on cryptocurrencies, today I'm on the daily chart with STEEM/BTC.
I see a lot of potential in Steemit, although it is not ready for mass adoption it certainly has many positives in the eyes of investors/traders as well as content creators and curators.
Here is my view from a technical standpoint...
The curve presented on the chart can be seen across various financial markets and is simply a representation of an asset becoming less valuable over a long period of time.
As price is pushed towards the lowest possible value there are three potential outcomes:
1. STEEM will crash (highly unlikely).
2. It will continue to trade below the curve.
3. Experience a huge breakout to the upside.
Of course, we experinced a brekout of the curve moving from around $0.60 to $2.40.
Earlier this year I came across a similar situation with BitShares (BTS) and Ripple (XRP), in which both of those assets experienced a tremendous amount of growth.
BitShares.
Ripple.
Just to clear this up, I do not expect a surge in price like we seen with BTS and XRP.
I'm expecting a steady move up between the key zones highlighted in grey, use these levels as an indication to where price will stall.
Right now the market is now correcting itself and preparing for the next move up.
What has this got to do with Steem Power?
EVERYTHING.
The system put in place is exceptional, it truly is.
Especially for those who do not have a vast amount of knowledge in regards to trading or investing.
Your earnings today have the potential to be worth 10x that value in years to come, or sooner depending on short term performance.
I personally believe with the correct changes by Steem and the continual increasing demand throughout trading exchanges the price of Steem will climb into double figures.
Click here to view my original post on TradingView.
Don't forget to upvote, resteem and follow me for in-depth market analysis and investing education.
Nice charting! I'm following and looking forward to more.
Thank you! More analysis on the way :)
Thank you so much for your time and effort into doing these charts.
I´ve been following you on Tradingveiw lately and found your charts to be very valuable.
Glad to see you on Steemit as well!
I really agree that Steem has a great potential and I´m really excited to see the next moves.
What kind of changes would you like to see for Steem/Steemit to become more interesting for the mass marked?
You're welcome, thanks for your support! It was a no-brainer to join Steemit, I'm in this for the long haul.
The platform itself on the front end is not simple enough for the masses.
It's general problems that will more than likely be simplified in time.
And the list goes on... Steemit wasn't designed with economic simplicity in mind.
Yeah, I agree.
Will be interesting to see the development after beta mode.
Def. in it for the long haul as well.
Awesomeness thanks for the insight
You're very welcome mate.
I fully agree about how much potential the current system has and that you need to be taking advantage of it now via Steem Power. Reinvesting in the platform is the key here. The upside is unreal.
I agree with you 100%.
“Someone is sitting in the shade today because someone planted a tree a long time ago”.