Contest|| If the STEEM price is $1

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Hello guys how are you all doing today I hope all is well today I will be participating in a contest organized by @sofian88 in the steem for betterlife community with the theme "If the STEEM price is $1"

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10% prizes to @worldsmile

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WHAT WOULD YOU DO IF TOMORROW MORNING STEEM WAS VALUED AT $1?

If steem price miraculously rise tomorrow from $0.23 to $1, it would be a great shock to everyone and in the crypto world and a lot of investors and traders who invested massively in the steem token would be very happy and will gladly exchange their steem coin to dollars in other to make huge profit.

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But for me since I'd just became an active Steemian couple of months ago and I do not have enough steem tokens in my wallet, but I would be very happy because my wallet value will increase same with my earnings on steemit.

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WHAT WILL YOU DO IF TOMORROW MORNING STEEM DROPS TO $0.01 INSTEAD?

It will be the sadest ever to all Steemians, traders and investors using the steem token, since we are all waiting for the steem price to go upward so if it happens to drop to $0.01 which will be an all time low in short even if I have to get a loan I would do it to buy it at the low price because it must surly rise again.

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But to Steemians it will be so bad because all wallet value will drop like 80 or 90 percent and the total post payout will be very low there by discouraging a lot of Steemians who had low steem power.

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A screenshot from Google

Possibilities of price recovery

Steem being a cryptocurrency which means that the price are volatile and can fluctuate at anytime and it is possible that it might drop to $0.01 since it's price is not being controlled remotely by anyone.

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So if the price drops to such an all time low of $0.01, the total demand for the token will be reduced since no one will like to buy or invest in such a low currency 💲 but the only thing which could help it's price to recover are just like Bitcoin miners are helping stabilize the price same is applicable with steem if the steemit platform continues to develop and promote the platform which will cause increased in demand for the token there by helping the price to recover.

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WHAT GOOD THINGS DO YOU EXPECT ABOUT THE STEEM PRICE?

In the last 24 hours steem price has decreased by $0.01 through out in the last seven days, but studies show that steem has been in a good upward 5.62% trend

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So the good thing that we as Steemians and investors should expect from steem price is that according to study the prediction made on the current price of steem is that as at 2030 market analysis says that the price of steem will reach $0.906 so you see this is a good opportunity to dig in and invest.

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CONCLUSION

Unlike some other cryptocurrencies steem has the steemit platform which has contributed greatly in helping it's price grow due to the high demand of steem tokens which are being used as a medium of payment

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I will like to invite @edidiongeffiong @ngoenyi @esusaviour

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Written by
@radleking®