Steemit Crypto Academy Contest / S9W1 - Steem performance in 2023
Good day once again to everyone, my name is oluwatimileyin and I welcome you to the season 9 of the engagement challenge.
I welcome you to my participation in the week 1 of the Engagement contest with the title: Steem performance in 2023
First of all, let's talk about what Steem is. Steem is the native coin of the Steemit Platform, and Steemit is a Blockchain social media where users post content and get rewarded with the Steem token.
The Steem token was launched in 2016 and has made some interesting price movement, and the Steem coin has once reached an ATH of 8$.
So to answer the question whether to invest in the Steem token, we can make use of something called a technical analysis with the help of Tradingview to predict what steem price will be by December 2023, we can also make the investment based on our own instinct as there are more development in the platform everyday, so if you are the type that doesn't like to miss out when the price is low, this can be the best time to Invest in Steem coin.
- Performing technical analysis to predict Steem.
Technical analysis means analyzing possible price movement of assets in order to predict what it's movements might be like, and for this we will use Tradingview, tradingview is a the most used platform to check market chart and it has varieties of tools that can help to predict this movement.
Step 1 - download and install trading view from apple store or playstore.
Step 2 - Add the market of Steem/USDT to your watchlist, then click on view chart .
Step 3 - for me to be able to predict whether the market is good or not, I will add indicator by clicking on the "Fx" logo .
Step 4 - I will be searching to use the 200 ema indicator because that's what have always use, then after that, I double click on it and it will add to the chart.
Step 5 - after adding the indicator, I was able to see some price movement and whether it is a good buy or not, according to the daily chart prediction with the 200 Ema and parabolic sar, it shows that it is a good buy against the December 2023 period as it is already signalling Buy from the chart
So from this analysis, we can personally predict with the choice whether we are ready to buy now, or we are willing to wait a little bit against the December 2023 period, but in my opinion, I see this as a green light to Buy.
This is also a straightforward task, what this means is that I should show the steps on how to convert Steem to USDT in a wallet, so for this , let me use the Binance wallet to make the conversion and show the steps.
Step 1 - Make sure you have your USDT ready in your exchange, then go to the Steem/USDT on spot and click to buy Steem with the USDT you have in your spot wallet.
Step 2 - You have to wait for the transaction and make sure it has completed.
- Transferring to Steemit wallet.
Now that I now have Steem on my binance exchange, I can easily transfer it to my Steemit wallet by filling the neccesary details.
Step 1 - Go to wallet, then click on the Steem assets and choose withdrawal, there are two options but you choose the one I click which is to send via crypto network.
Step 2 - The next is to fill the neccesary form, in the address recipent, I input my Steemit username, then I did not fill any memo for this and then send.
When the transaction is ongoing, I will get the notification of withdrawal processing.
Step 3 - Now that I have fill the form accordingly, I could see that the Steem token I transferred from my binance is showing in my Steemit wallet as well.
As of this time , I currently have 1,776.889 STEEM .
Steem Power is the token used for voting on the platform, and it shows how much power you have as well, the more SP you have, the more vote you can give to support others as well.
Currently, i have 1776 SP and my plan is to reach 5000 SP before December, and to achieve this, I have make plans to consistently power up, I have been a club 100 member now for 7months now, and I plan to continue staying there till December as well.
So by doing this, I believe I will be able to get to my target, if I can continue with my constant effort on the platform, and I keep dropping quality contents on the platform, I will be able to reach my target in a matter of months.
Here is where I pen down my entry to this contest, so therefore , I would use this moment to invite @yakspeace, @Lhorgic, and @jueco to participate in this contest as well.
Hi @negro-bby
You told us about the STEEM which is the native token of Steem blockchain. According to your technical analysis, you have good hopes for STEEM.
You have transfer 0.99 STEEM from Binance exchange to your Steemit wallet, which is really helpful for readers.
Your aim of achieving 5k sp is really appeiciable and tells us that you will be work hard and will prove it. Thank you so much for sharing. I wish you success in this contest. Please try to share your blogs on social media like Twitter etc.
Regards,
@malikusman1
Thanks for your input as well, yes I will start sharing when I got to activate my Twitter account .
You made a wonderful technical analysis which shows that the price of steem will move up and you advise that this is the right time to buy. You have also shared a detail practical on how tou can transfer asset from your exchange to your steem wallet. You intend to achieve 5k SP before december 2023. I wish you success.
Hello my friend, I hope that you are doing well.
You have done a good technical analysis by applying the 200 EMA and SAR. I also use these two indicators sometimes to verify my analysis and I am glad to know that you have done well.
I, through my analysis, hoping that Steem token is at a good buying zone right now until the December 2023. I wish you success in achieving your target of 5000 SP and become a Dolphin.
Success in the contest!