Steemit Crypto Academy Contest / S9W1 - Steem performance in 2023
....Created on Canva
Hello friends,
I'm glad to be part of the season 9 steemit crypto academy engagement challenge. It has always been my desire to partake in this challenge and hopefully, I have qualified to do so.
On this week's episode of the challenge, we have been asked to share our opinion regarding the performance of Steem cryptocurrency and I will be doing that by answering the posed questions below.
Whether investing in Steem now is a good option or not is actually a very important question because investments requires serious calculations because of the associated risks.
When it comes to investing in Steem now, I will say yes because Steem is a cryptocurrency which stands out amongst majority of other cryptocurrencies. I say this because Steem is the first cryptocurrency used in rewarding content creators in a decentralized manner.
Currently, the awareness in content creation is rapidly increasing unlike what we have seen in the past years and with the awareness comes adoption.
The fact that there's increase in interest in content creation shows that in no time a lot of content creators will emerge and most will be out looking for a suitable platform to share their contents.
Also, content creation is still very much underrated which is why most people are yet to consider it as a real job. This is why those who have seen the benefits of content creation are out rooting for it to be considered as a real job.
From the survey shared in the screenshot above, it is seen that most of those who want to dive into content creation are doing so because they want to be free and independent of any boss. This type of freedom is mostly guaranteed in a decentralized platform which is why I believe most of them will choose to share their contents in a decentralized platform other than a centralized one which will still leave them at the mercy of the platform owners who serve as a third-party.
Choosing the option of sharing contents in a decentralized platform will obviously bring most of them to steemit and that will certainly increase the adoption of Steem token which is the token used in rewarding content creators on the steemit platform.
I believe we have quickly seen how investing in Steem now is a good option.
I will be doing some analysis on trading view to determine the possible direction of Steem.
From the above screenshot, it is seen that the Steem price have formed an inverse head and shoulders pattern which indicates a bearish to bullish trend reversal. This inverse head and shoulders have completely formed and the price is currently retesting the neckline which often happens before bullish trend continuation.
Coming down to a lower timeframe, we will see that the price have broken above a range towards the upside and it's currently retesting the broken resistance which now serve as a support. This is a bullish indication and traders/investors will be looking to go long.
In other to transfer USDT to Steem cryptocurrency in Steem wallet, you will have to first convert USDT to Steem any exchange of your choice.
For this purpose of this task, I will be using Binance to convert USDT to Steem and transfer to steemit wallet.
After converting USDT to Steem as seen above, proceed to sending Steem to steemit wallet.
Start by filling in the required details such as the amount of Steem you want to transfer and the correct wallet address which is the username of the recipient. The memo here is optional.
Proceed to send Steem to steemit platform by verifying ownership and completing transaction.
I have very little Steem at the moment but I am very much earger to build my Steem power this year.
I currently have 51.347 sp which I believe to not be much meaning that I still have a long way to go but I believe with more hard work and consistent power ups, I will be able to achieve 3000 sp by December 2023.
This achievement will only be possible with the help of the curators and moderators whom I humbly plead with to help me reach this goal.
The future of Steem cryptocurrency is so bright and I personally believe that this is the right time to make good investments on Steem. This is my personal opinion as I am not an investment advisor neither am I mandating anyone to make any form of investment. DROR
I'm inviting @jueco , @starrchris, @lhorgic, and @solexybaba to take part in this contest
Hi @loverboy10, your post on Steem's performance in 2023 is well-written and informative. Your analysis of the cryptocurrency's price history, market trends , & potential factor that could influence its future performance is well-researched and insightful.
I appreciate how you've presented the different scenarios that could impact Steem's price, and how you've provided explanations for each one . your explanation of the potential impact of the wider cryptocurrency market, the adoption of Blockchain technology, and the regulatory environment is particularly helpful for readers who are looking to invest in steem.
One suggestion I have is to include more visuals, such as charts or graphs, to make your post more visually appealing and easier to understand. Overall, your post provides valuable insights into Steem's future performance , & I enjoyed reading it. Keep up the great work!
Thank you for your valuable comment. I really appreciate the fact that you have read through my entry. Yes, the focus is on Steem performance and I am sure Steem will do very well in the nearest future.
We support quality posts anywhere and any tags.
Curated by : @steemdoctor1
Thank you for the support
Your insightful analysis of the Steem cryptocurrency through important levels like support and resistance etc are adorable ..
Your point about the increasing interest in content creation and the benefits of a decentralized platform like Steemit is well taken.
Y our step-by-step guide for transferring USDT to Steem from the Steemit wallet are very descriptive .
It's also encouraging to see your dedication to building up your Steem Power & your goal of reaching 3000 sp by December 2023.
Keep up the hard work. I wish you the best of luck in your investment endeavors.
Thank you so much brother for reading through my entry. It's is quite encouraging to have such encouraging words and appreciative comments from you.
Indeed steem has a lot of positivity surrounding it and all we ought to do is to not give up and continue strong on our believe in Steem and the wide adoption of steemit by content creators.
A very interesting post. You have taken your time to discuss each question in a well detailed way. Yeah, the steem coin actually stands out amongst some other major cryptocurrency. steem coin is doing very well. Also, Your analysis you conducted are very good. I also like the way you explained the difference factors that can help in the growth of steem price.
It’s good to see how determined you are to achieve 3000 sp this year. I believe you can achieve that goal with hard work and consistency. I wish you best of luck and thanks for sharing this with us.
Your comment is quite valuable. Thank you for taking so much time to go through my post and read it well enough to understand and appreciate my work. Indeed the Steem price is at a very good position that every investor should take advantage of. There's a lot of positivity surrounding steem as all factors are pointing towards a bullish move in the nearest future. Once again, thank you for engaging on my post.
Alright 👍🏼
Yeah, there is a a lot of positivity surrounding the steem coin and also, there is also a high possibility that the steem coin will do very well in the nearest future.
Thank you for sharing your optimism. Indeed we all believe in the future of Steem in as much as there are several competitors emerging on the decentralized platform such as arbistream. I still strongly believe that Steem will do very well sooner than we even expect.
Yeah, i strongly believe steem will be do well despite all the competitors emerging.
We have same believe. And I am glad people are starting to see the importance and benefits of content creation. We are too early!!
This is a well written entry, you have done absolutely well.
I appreciate the way you made your explanation very easy to understand, please continue to give this interesting entries.
Thank you for your kind and encouragement comment. I deeply appreciate how you have taken time out to go through my entry.
I appreciate you.
We support quality posts anywhere and any tags.
Curated by : @steemdoctor1
Thank you for the support.
A nicely detailed post friend, I love how you wrote professionally about Steem and content creator. This proofs you are updated on latest happenings.
Thank you dear friend for the support and encouraging comment I deeply appreciate. Also, I am glad you took out your time time read through my content.
Thank you so much
Hi bro @loverboy10,
As a newcomer I apprciate you efforts for creating this article. Its seems like you have put a great effort while making this as you said that investing in Steem is now a good option. Your method of converting USDT in STEEM is really informative and apprciable. Your aim to achieveing 3000 Sp at the end of 2023 is good, but hardwork is require for this and I hope you will achieve this target.
Its not DROR, Its DYOR mean (Do your own research) a very popular term in crypto.
Thanks for sharing.
Regards,
@malikusman1
Thank you so much for taking out time to go through my content. Indeed Steem is a good option for investment adding to the increase in awareness when it comes to content creation. Also, I appreciate you have pointed out an error. Thanks for the correction.
You have written well mya friend, indeed this is the right time to make a good investment on steem. I love you work on technical analysis as you have show clearly how the price of the asset is at rest to retest after the rest for a bullish run. Overall, you habe shared a good understand as to how one can transfer steem from exchange to your steemit wallet. You have also predicted having 3k SP at the end of the year. I wish you success.
Thank you friend for your warm comment. Yes, Steem is good for investment at this point because it is greatly undervalued at the moment and it's showing good signs of positivity. Thanks for appreciating my work.