In Bitcoin terms, Steem is revisiting the lows of March of this year and if it was to revert back to the Bitcoin valuation witnessed in June, then Steem could be +$10.36..!!
Cryptocurrency News: #Investors-Group
#Steem Price Chart - Measured in #Bitcoin
#Steem could be +$10.36..!!
In #Bitcoin terms, #Steem is revisiting the lows of March of this year, and is currently trading at 0.00010067 BTC.
If #Steem was to revert back to the #Bitcoin valuation witnessed in June of this year, it could be valued in excess +$10.36..!!
#Steem back to the #Bitcoin value seen in June of this year
Calculation as follows...
Low Volume..!!
From the highs of June of this year, you will see from the above chart that the drop in the value of #Steem measured in #Bitcoin has come down on little volume compared to the huge amount that was needed to take it from the lows of March of this year to the highs in June.
This lack of volume strongly suggests that when the reversal takes place and #Steem is re-aligned to the #Bitcoin valuation seen in June, then the acceleration to the upside in $ terms will be fast.
Long term, I maintain a bullish recommendation on #Steem both in $ terms and #Bitcoin.
Thanks again for reading.
Stephen
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I have not even the smallest doubts I will see STEEM at $10. The only thing I would not risk to gues is the time - will it be 2018, 2019, or 2020. Even if 2020, I will keep HODLING and POWER-UP'ing
I honestly do not think it will be too long into 2018 before you see $10 STEEM.
I expect to see $100 STEEM in the time frame you mentioned.
I always thought I'm bullish. but ....i see I am not even close to how you are. 3 years is not that long - I can wait. Stil remember all laughed at me mining BTC with CPU in 2011...
True but in the crypto world, it is.
Here is my reasoning:
I. SMTs...look at the move in ETH due mostly to ICOs. Steem now has that ability.
Is it certain that the SMTs will be good for the Steem price? Won't people just start to use them instead of Steem?
Short answer...no. A good analogy is ETH. On Ethereum numerous tokens have been created that fueled the price of ETH. The same will happen with Steem (hopefully).
I agree...I see the same thing happening to STEEM that happened to ETH.
The ICO market got ETH a ton of press and STEEM could get the same. Plus that is a ton of people being drawn onto this blockchain.
It is a wonderful time to be holding steem.
Hi @captaincanary
Thanks for the comment.
They could well use the new token which is great. The more tokens on the blockchain, the more bandwidth that is used. And bandwidth is priced in one thing...steem.
Hence if a site has a ton of activity on it, it will have to buy a lot of steem to keep up with the growth.
That is why the SMTs are so powerful....get 10-20 tokens with decent followings and you could be talking millions of followers all on the steem blockchain.
Oh ok so an SMT will have to be backed by Steem Power? For example if I wanted to start an SMT which had a total reward pool of $100 a day I would need to buy and hold an amount of Steem which could pay out that amount?
This answer is two fold.
To start a token, you would most likely buy STEEM to provide initial value to the token...a form of backing the token up. After a while, the creators of the token might sell the STEEM as the value of their token took hold...or the might not.
Regardless of what they did on the end, you as a token creator would need bandwidth. It really doesnt have to do with compensation. Look at your steemd.com/@username account and you will see bandwidth under your voting power. That is the system. All "fees: are determined by bandwidth. Hence if you had a million people active on your site posting, upcoting, and commenting, then you would need a fair bit of bandwidth, hence STEEM,
I hope that helps to clarify things....
Thanks you gave me an idea of a post.
I could not agree more. When the reversal takes place and I guess it will be sometime around the SMTs launch in Spring 2018 then I would not be at all surprised to see multiple "+100% days" on a run. Stephen
The channel steem is in is long...which usually means breakouts are hard and fierce. Steem basically is sideways between $.80 and $1.30....right now we are about middle of that range.
Any word on SMTs and when they will start to create coins?
I guess it will not be until Spring of next year until we hear anything concrete. Stephen
Thanks for the 411....we just sit and wait patiently...
@taskmaster agreed! As I mentioned above to @onealfa I believe the first 3 months will turn steem into $10 or $15 and then perhaps at the beginning of 2019 we can see something closer to $80 or $100 and then the rest is history. @gold84
@onealfa I agree with you that it will be on $10, or perhaps $15. My believe is sometime on 2018! Perhaps the first 3 months? upvoted your comment. @gold84
By the way, I have not seen any comment from you in the past 4 or 5 posts. Your suggestions and ideas are very much appreciated. Have you checked the last idea about adding the Steemit mentor link on the front-end of steemit to connect the: @steemitworldmap with the steemit mentor teams, and make the ambassadors be seen on the steemit world map? Looking forward to your feedback on that one when you get the chance. Here is the idea: https://steemit.com/utopian-io/@gold84/we-need-the-steemit-mentors-link-on-steemit-together-with-a-team-of-mentors-a-super-feature-for-potential-users-see
This is an in-depth and accurate assessment of where I also think the steem token is heading. You are an excellent analyst for us all and I thank you for more of your invaluable insights. :)
Thank you and thanks for the continued support. I really appreciate it. Stephen
Great analysis @stephenkendal just upvoted and resteemed! @gold8
You are welcome and thank you. Stephen
isnt the market saying, something is wrong and you better fix it!!!!
I am not sure that there is really a correlation between steem and btc.
That said, I have no fear that we will see the number you mention...and fairly soon (By April 1 the latest).
I foresee much higher levels on this blockchain. There simply is too much going on. We are in the development stage at this moment. However, once that development results in apps people really start to use (DTube for example) without the bugs, you will see the explosion.
I expect my kiss on the forward by next Christmas.
Try sharing your theory with those who bought #Steem in March/April/May of this year that there is no correlation between Steem and Bitcoin..!! The only way you can buy #Steem is to buy #Bitcoin. There is a 100% correlation. Stephen
And in the 6 months after that STEEM went down, bitcoin up...hence.
As for the buying of steem with BTC, come on...are you really using that. BTC is a pass through oftentimes.
I take my fiat, buy btc and when it hits, get the steem.
Steem is being shorted. This is very clear by the lack of volume. When their position is reversed this will accelerate at a rapid pace sucking up #Steem as though it was confetti. When it happens, it will be quite something to watch. Stephen
As much as I'd love to see Steem at 10$, I fail to see the logic for the "could be" :-I It's not that I don't trust you, just I don't understand your calculation. Care to explain please? :)
Bitcoin might drop 30% just as sharply as it spiked, then Steem might revert to its June valuation vs BTC :)
That would still be a nice dollar gain for Steem, right? :)
May god hear your voice we all wish to see steem 10+++++ to the moon
It really is astonishing.
I think value in steem comes from its users and we need real growth before we sicher evaluations. I hope the concentration is not hindering our growth.