Since steem is like every other alt coin when it comes to its volatility, everything is based on btcs price. As bitcoin has like a 40% market cap compared to all the coins combined, it makes sense that bitcoin is what leads, and he alts follow. Of course there’s times when there’s huge news specific to one coin which can see a massive upturn whereas the entire market in of itself is rather stagnant, but the news has to be very negative or very positive to see changes.
Anything from lack of interest, fear of cryptocurrency regulations, focus on bitcoin over other altcoins, competition, market manipulation from big players in the market, whales selling off, steem also produces more tokens every day by the nature of how it's designed so there is an element of deflation as the supply increase if you sit idly by and don't keep up with your earnings. There are so many factors to consider. Eventually it will go back up though, everything has peaks and valley and we've seen steem low like this before and we've seen instances where SBD prices over took STEEM only for STEEM to later recover so stay patient and wait it out.
Steem price is not only cheap but looking at the whole crypto currency market there are almost all coins which are available in very low rate and there is a reason for delay for ETF and this may affect the price of our mother currency bitcoin.
Steem price will rise up in future as it is the future and it has many good sources of earning and blogging and today it is also available at very cheap price because the price of all currency went down.
This is the future of blogging and it has already beat many blogging platform and now they are paying and treating their customers so the price of steem will grow 100% in near future.
View this answer on Musing.io
View this answer on Musing.io
Since steem is like every other alt coin when it comes to its volatility, everything is based on btcs price. As bitcoin has like a 40% market cap compared to all the coins combined, it makes sense that bitcoin is what leads, and he alts follow. Of course there’s times when there’s huge news specific to one coin which can see a massive upturn whereas the entire market in of itself is rather stagnant, but the news has to be very negative or very positive to see changes.
Anything from lack of interest, fear of cryptocurrency regulations, focus on bitcoin over other altcoins, competition, market manipulation from big players in the market, whales selling off, steem also produces more tokens every day by the nature of how it's designed so there is an element of deflation as the supply increase if you sit idly by and don't keep up with your earnings. There are so many factors to consider. Eventually it will go back up though, everything has peaks and valley and we've seen steem low like this before and we've seen instances where SBD prices over took STEEM only for STEEM to later recover so stay patient and wait it out.
Steem price is not only cheap but looking at the whole crypto currency market there are almost all coins which are available in very low rate and there is a reason for delay for ETF and this may affect the price of our mother currency bitcoin.
Steem price will rise up in future as it is the future and it has many good sources of earning and blogging and today it is also available at very cheap price because the price of all currency went down.
This is the future of blogging and it has already beat many blogging platform and now they are paying and treating their customers so the price of steem will grow 100% in near future.