Could Steem be worth +$7.50, with a Market Capital of $1.87 billion and Ranked Number 10 in the Cryptocurrency Market? Yes, why not and here's why..!!
#Steem at +$7.50..!!
#Steem at a Market Capital of $1.87 billion..!!
Could #Steem be worth +$7.50, with a Market Capital of $1.87 billion and Ranked Number 10 in the Cryptocurrency Market?
Yes, why not..!!
Let me explain.
As previously predicted, #Steem hit a high of $2.80 and achieved this on Friday 9th June 2017.
For the ones who missed this prediction, here is the link....
The prediction was made on Monday 15th May 2017.
After #Steem hit the predicted high of $2.80 achieving it on Friday 9th June 2017, the following day #Steem closed at $2.24.
On that day (Saturday 10th June 2017) #Steem was valued at 0.00092658 BTC.
Taking the current #Bitcoin Price, which should be noted is rising at a price of $8,181.00, this would leave #Steem at 0.00092658 x $8,181.00 = $7.58..!!
At $7.58 this would give #Steem a Market Capital of $1.87 billion and would put it just back into the Top 10 Cryptocurrencies by Market Capital, ranking it at Number 10..!!
To put things into real perspective, this time last year #Steem was Ranked at Number 7..!!
Back to the original question
So back to the original question, could #Steem be worth +$7.50, with a Market Capital of $1.87 billion and Ranked Number 10 in the Cryptocurrency Market? Yes, why not..!!
Thanks for reading.
Stephen
Please feel free to use the #Investors-Group tag for: Stocks, Cryptocurrencies, Commodities and Investment related Blogs.
This makes sence. That's why I 've increased my SP my another $1300 last week
@onealfa I totally agree with you. I am working to increase the SP and also EOS and Bitshares in the short run. It will be a very interesting year 2018. Upvoted your comment! @gold84
oh!excellent job?
Good for you...I am increasing it too..I have a few dollars clearing tomorrow or Saturday which will be buying up some steem.
It is a great long term play.
Is there any particular reason why steem will regain the bitcoin conversion rate it previously enjoyed in the near future though?
Many other coins have also been left far behind in terms of BTC value due to the phenomenal performance of the 'big daddy' of cryptocurrencies over the last few months.
Being a holder of a substantial amount of steem, I'd obviously be delighted to see a significant appreciation of the currency, but it's been fluctuating around the $1 mark these past few months.
Sure. I mentioned below that it won't be long now that Financial Institutions, Pension Funds and Fund Managers will start accumulating Steem. When they start buying they won't be buying x1 Steem here and x1 Steem there but will be buying in chunks of x100,000's. When they do they most certainly won't be bothered whether its $1, $2, $3, $4, $5, $6 or $7 but will be firmly focused on the divergence from Bitcoin. When the buying starts they will snap up Steem in a blink of an eye. Why? Because as I mentioned below, in their eyes Steem is cheap in Bitcoin terms and Bitcoin is rising rapidly..!! Stephen
nice analysis. I'm still not accumulating any more tho! I got my position back in June at ATH, and have moved on to other successful short term investments. But I'm a HODLER by nature. So I'll keep my heels dug in here too!
thank brother.
Don't you hate it when your right? 😉
It can be quite annoying. :) :) Stephen
I was called the biggest steem cheerleader next to @stephenkendal the other day.
It seems most of my posts the last few weeks were pounded all that the steem blockchain has going for it. We even have an alternative to EBay with the @Steembay protocol that was introduced yesterday (already 50 auctions running as of this morning).
I am not sure of your correlation of Steem and Bitcoin pricing. Simply because the price ratio was something on a particular date does not mean it will get back there. Of course, your overall assessment of STEEM at $7 is correct...there is no reason why it cant be there...and soon.
I have a minimum target price on STEEM of $100...possibly in 2018. ETH saw a huge jump in large part to the ICO craze. With the SMT protocol, STEEM can foster the release of many coins designed utilizing the curation/reward system.
A lot going on with this blockchain, which the pricing of the token will eventually meet. When it does, many will be surprised. Of course, many of us are already talking about it.
If this happens in 2018, I personally will fly out to Florida and give you kiss on the forehead... ;) ;). Stephen
Well that is a first...never had that offered to me on here. LOL
My reasoning is simple.
A. Wall Street is on its way and they are bringing plenty of money. I forecast that the crypto marketcap will be $1.5T by the end of 2018.. while BTC will get the lion's share of that, it will spill over to other currencies and lift the entire sector.
B. ETH skyrocketed in part due to ICOs. SMTs will offer a similar path for steem in the creation of other tokens on this blockchain.
C. Commerce is starting on this blockchain. Steembay is a steem based auction house similar to EBay with the difference it costs nothing and accepts steem. People are going to have a place to use steem to get goods and services they regularly need.
Only a matter of time! IMO
I could not agree more..!! Stephen
@stephenkendal I believe this will happen in the next couple of months around February or March 2018, at leat at $4? Your thoughts on timing? @gold84
oh!!@masum652
Shared on twitter. Stephen
Do you have a short term prediction this time, say STEEM $2/$5/$7.5 at April-June 2018?
I hope so!
Hi @stephenkendal, my target price for end of year is 2.93, this was my analysis six months ago https://steemit.com/steemit/@malonmar/cryptocurrencies-analysis-4-my-target-price-for-steem-is-usd2-93
thank you