You are viewing a single comment's thread from:
RE: STEEM: Trading strategies and Price predictions.
hi @sadekj, you might have a point here and I agree that the community growing fast could impact the price , however this growth has yet to translate into a higher demand for Steem, so far I think Steem's price has been increasing only on the basis of speculation (during the last altcoin's bubble) and as a trader, I see an opportunity to convert some Steem into a different currency for the sake of diversification and risk management.
Steem is one of the few currencies that you can really use. I have seen so many steemians buy so much steem when the price goes south.
I agree a portion of the demand is coming from speculators, but a good portion of it is coming from the community. This gives steem an advantage over other alt coins.
Agree with you, Steem is probably (with Ethereum) the only altcoin which has any real world utility, as for the demand of Steem coming from users, you might be correct but I am not sure it had clearly materialized on the charts yet. Time will tell I guess :)