SEC S16-W3 Steem’s Potential in the Bull Run .

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This is me @kathy-cute from Philippines and you are here Reading my Blog. I hope you all are enjoying the current season here. It's an honor for me to participate in this beautiful contest. This is my participation in a contest Steem’s Potential in the Bull Run.

Let me first explain in short words what is bull cycle, and what is it's relations with Bitcoin halving? Actually the Crypto bull run or bull cycle starts with Bitcoin halving. Now what is Bitcoin Halving? Bitcoin halving happens every four years. The rate of mining new Bitcoin decreases by 50%. This year halving is highly expected to happens in April 2024. Only 36 days are left in it.

I am high sure that Steem coin will give us a huge raise this bull run. If we look back in past Steem always shown a huge raise in the previous bull runs. Even it's all time high was back in 2017 which is something $7. According to my Analysis and prediction I believe that Steem token can reach $1.5 this bull run. It's very easy for STEEM to reach that level and I have a very solid reason for it.

My reason with me is that, the total supply of STEEM COIN is very limited. It's something 450 millions, which is very less for a crypto coin. In bull run it's easy for a stable and old coin like Steem to accumulate $1Billions market Cap. And if steem coin is succeeded in achieving one billion dollars market cap, even we can see the price of steem token above $2. Now the current market Cap of Steem is something 180millions dollars.

As bull run and Crypto Halving is good news for the entire crypto market, so same it is for Steem token too. The biggest advantage in my point of view steem token has, it's one of the oldest crypto currencies. It was a time once, where steem coin was the third largest crypto currency with highest market cap.

The second thing which I think will influence more investors towards steem is, it's limited supply. In crypto, the supply of a currency does matter. If the supply is limited, it's a high chance for that coin to get pumped. Now steem token has 450millions supply, 1 billions market cap will raise it's price to $2 and 2 billions dollars marketcap will make it's price $4 and so on.

The Steemit platform is the third reason we can say plus point for STEEM Coin. The reason is that Steemit has a very big community and through it alot of advertisement of steem token is doing everyday. Especially when people share their posts on Twitter/ X. It greatly help to advertise steem to the external people.

I am using many technical techniques and tools for my Analysis. Let me show below the list of these.

Trend Line.

The most trusted and most using strategy for me is trend line. My all trades must relay on Trend line. Before going to any trade I must check the Trend line first. Here you can see currently Steem in bullish and the trend line show us steem is in uptrend. I have used 2 hours chart for it which we use mostly for midterm. If this trend line is respected we can hold steem for few months.

Fibonacci Retracement

This is the valid tool which gives us different retracement levels. Retracement levels mean the price can come back to these levels and after that price will goes up. We have three important golden levels: 0.38, 0.5 and 0.61. Currently steem is on support level of 0.23. Along with it, it's on support level of the trend line too, which shows steem is on very crucial position now. According to me STEEM is bullish in future midterm.

EMA

EMA in a combination also give a very valid Analysis. If we use it in the combination of 50 and 200 Days moving average, it gives us some important data. A golden cross and Death Cross we get by using these two moving averages. Golden cross shows bullish while death crossover shows a bearish trend. Currently we are in golden cross phase which shows that Steem is bullish. The 50 EMA has crossed 200 EMA in upward direction.

RSI

Rsi is one of the prominent Technical Analysis tools too. It shows us over bought and over sold regions. Their are two levels in it, 70 level and 30 level. 70 shows Over bought and 30 level shows over sold. Over bought gives us a selling signal and over sold gives us a buying signal.

Fear And Greed Index

It shows us the sentiment of people in the market. Fear is the time to get entry in the market and Greed is the time to get exit. Currently the market is an extreme greed. The greed level is 81% which is at very extreme.

Steem is fundamentally looking very clear and positive. It has some uniqueness which we rarely see in other crypto currencies and these are the things we can say Steem will flourish in this bull run. Let me explain them below one by one.

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• The number firs and in my eyes the most valid fundamental of STEEM token is it's active and legit community.This platform fosters a strong and active community of steemians who are too much deeply involved in the governance and development of the platform. Having such a strong community I believe is fundamentally too good for Steem token.

• It is decentralized social media platforms, which embarrasses uniqueness to this field. Steemit is quite different from the Traditional social media platforms. It doesn't relying on any central authority. It embarrass uniqueness to this platform.

• This is a content creating website. Steemit works on rewards system, where users are rewarded with STEEM tokens for creating and curating content. This feature help making the Steem and Steemit community bigger each single day.

• As I have said earlier that Steem coin has the advantage of being the oldest crypto currencies, so it is a strong fundamental for this coin. Those who know crypto deeply and completely will look after steem's this feature. It's one of the few coins being so oldest and it's price is under $1. So it can give us a huge profit in future if we hold it in our portfolio.

• The Delegated Proof of Stake is also a reason behind steem's success. It utilizes a delegated proof-of-stake (DPoS) consensus mechanism, where the stakeholders vote for a limited number of block producers who validate transactions and secure the network.

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Steem has been greatly adopted by many people during these past few months. This is the reason we seen a huge raise in it's price. The market cap almost got double and so does it price. Their could be various reasons, why steem token is so much flourishing these days.

Ofcourse the first and obvious reasons is Steemit platform. It's a source of great advertisment and publicity for Steem currency. Each single day dozens of people joining this platform, which is a green signal for Steem Blockchain.

These recent years has been too good for Steemit. Great development has been made here. The development of various important tools, which steemians can use for their accounts management and many other things. The development of STEEM pro app is also a greatest contribution to this Blockchain system. Ofcourse the development and advancement of Steemit is the development of steem Blockchain.

The current bull run or bull cycle can turn out a very positive sign for steem coin too. As in bull run we see a huge liquidity in the market, this time when the fomo of Bitcoin Halving came to the market, the crypto market liquidity shoot from $1.3T to $2.6 T. It's merely happened in this few months. Almost 1 Trillion dollars liquidity has entered to the market. So in this liquidity it's obvious that an old and strong project like Steem have a high place for it too. We can see a pretty good liquidity in Steem too in this bull run.

As I have said earlier that that bull run in the market is a good news for the entire crypto currencies, same as for Steemit too. Compared it to other similar projects like Hive or Voice or Reddit, Steem is consider a strong and reliable project has a longer history and a sizable user base.

The reasons behind Steem as a successful Blockchain are various:

• The first reason is the continuous development and improvement of the Steem blockchain's infrastructure and features to enhance scalability, security matters, and user experience. These things are important for staying competitive in the market. We have an example of HIVE; a project that is developed on the Steem Blockchain.

It's a very much important thing and too good for Steem Blockchain. Having another Blockchain developed on Steem Blockchain shows how authentic and stable this project is.

• The Patch and compliance of crypto with social media sectors will be crucial for Steem's long-term viability too. We have seen Facebook some years ago doing contract with Metaverse. The lunching of Metaverse in crypto can be a good news for STEEM too, because it is something resembling to the Steemit social media platform.

•Steemit has a too much active and effective community. Their governance mechanisms is sublime. It empowers the stakeholders to participate in decision-making processes and ensure transparency and fairness will foster trust and confidence in the platform. The governance system mostly consist of normal steemians; the developers, steem representative, Mods and Admins.

In short the overall sentiment towards cryptocurrencies these days and social media platforms, as well as broader market trends and macroeconomic factors, all these matters will impact the short-term price movements and long-term adoption of the Steem token.

Regard kathy-cute