🐻 Steem is hibernating 🐂
As Bitcoin's price continues to creep up, up, up to new record breaking highs, Steem seems to be like a hibernating bear in a dark cave. But I can tell you, perhaps Steem will wake up and come out of its sleepy state in around 4 or 5 months from now.... I hope.
About Steem
I was going through some old statistics to see if I could see when STEEM had gone up significantly in the previous Bitcoin Bull Run in 2016~2017. I wanted to know how coins such as STEEM reacted to the sudden increase in price of Bitcoin.
This is what I came across.
It appears that in the first week of Dec 2016, STEEM was pretty much stabilized at 13~16¢
...just going along fine...
Dec 2016: week1
steem $0.13
Bitcoin $896.18
... and then suddenly BAM!
May 2017: week1
steem $0.52
Bitcoin $1596.71
Bitcoin doubles in price...
June 2017: week1
steem $1.30
Bitcoin $2511.81
Steem goes up
July 2017: week1
steem $1.64
Bitcoin $2506.47
There seems to be a significant difference in price from May 2017. Does this mean that we have to wait until May of 2021 for STEEM to come out of its little cave? It seems like it... if history repeats itself anyway. I know history doesn't have to repeat itself, but history does have some sort of rhyme and reason.
내년 5월 기대해봐야겠네요~
스팀 제발 깨어나길!!!!
아메~ㄴ
It seems that steem also have a BTC value decay @gungho so I am now selling it and buying back after a few days or months.
Steem community is different now with a lesser community members so the price I guess would not pump but I might be wrong.