A quick look at STEEM/BTC price from 2016 to 2020!
Tonight, I was explaining the gradual decline in price to a friend and also discussing the possibility of a rally in price for STEEM/BTC in 2020/2021 given the bullish nature of BTC and some of the majors in general and simultaneously I was looking at the Bittrex chart which has the historical data for STEEM/BTC price compared to the newer Binance one.
I'm just engaging in friendly a conversation over the price of STEEM. This isn't financial advise so don't throw your money at the markets reading this post. DYOR!
Anyway, let's go over the absolute ROI of STEEM/BTC from its depths to its highs in this post as well as look at the absolute high to low in STEEM/BTC price as well.
You may want to right click/tap and open the image in a new tab to get a clearer look and zoom in on it. Please note this is the 1 week chart where each candlestick represents 1 week of price action of STEEM/BTC pair.
2016 we saw the best returns on STEEM. The low to high practically after listing on Bittrex/Poloneix saw the price do an insane 2677.78% pump on Bittrex. While it's quite impossible to catch the absolute top or bottom generally speaking. If you did manage to do it then your 1 Bitcoin would've resulted in a profit of 26.7778 BTC if you sold at the top over a period of 21 days.
For 2017 STEEM/BTC would yield a max 16.3051 BTC profit on a 1 BTC purchase of STEEM over a period of 84 days. This is arguably the best year for STEEM and also alt coin markets in general. As we had two amazing rallies. One in the middle of the year and one then at the end.
For 2018 STEEM/BTC would yield a max 5.6934 BTC profit on a 1 BTC purchase of STEEM over a period of 49 days. Basically the alt season from end of 2017 to early 2018. STEEM/BTC also returned 154.57% absolute ROI between Mar
April 2018 over 42 days. I've not shown this rally on my chart.
For 2019 STEEM/BTC would yield a max 1.2194 BTC profit on a 1 BTC purchase of STEEM over a period of 77 days.
2020 so far from the lows of 2019 to the recent high of 2020 you would've seen a 0.8718 BTC profit on 1 BTC purchase of STEEM over a period of 84 days.
The absolute high to low from 2016 high to 2019 low for STEEM in sats is 99.82% over a period of 1197 days. This is quite common for many altcoins but stakers investing their BTC in STEEM have been rekt badly for sure. STEEM would have to pump an absolute 54845.05% from it's lowest value in sats to regain the high of 2016 (0.00001365 BTC per STEEM to 0.00750000 BTC per STEEM).
The good thing is that if you are able to catch the lows or even a near bottom each time then you can make a decent return on STEEM. But if you stayed powered up the opportunity cost has been insanely high since 2016.
You would've gained more STEEM via staking and or participation but you would've lost the chance to gain more Bitcoin on your investment. Now if accumulating STEEM is all that matters to you then this is irrelevant but if want to accumulate more Bitcoin down the road then being locked up for 13 weeks (down from 2 years originally) may not be the wisest choice.
However, while trading STEEM offers good opportunities to capitalise on, you cannot short STEEM and only long it. In case of any asset, majority gains are made on longing it vs shorting it.
The factors that led to the constant downward movement is not very relevant to this post but you are welcome to discuss in the comments. However, one thing that is noticeable is the following:
The absolute returns on STEEM has been lower each year starting from 2016. I'm sure this would be indicative in other tokens as well across the board owing to the extended bear market.
For example: If you sold 1000 STEEM at 2016 at the very top on Bittrex you would've received 7.5 BTC. If you sold 1000 STEEM at recent 2020 high it's only 0.02555 BTC per 1000 STEEM as per the indicated price on Bittrex. However, I would like to see returns similar to 2018 if not 2017 at the very least for STEEM by end of the next bull run whenever it happens.
Maybe if this post interests some of you then I will consider doing a similar post on the USD value of STEEM. Please excuse the typos in the post if any and please do your own research (DYOR) before investing in cryptocurrencies.
Meanwhile, please feel free to share your comments and your expectations for the price of STEEM/BTC pair.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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I think steem will go to it's all time high again
In USD value the possibility remains but it still won't be easy if we're being realistic. In sats, the probability of such an occurrence seems extremely low to me.
For example 0.0075 BTC per STEEM today means $77.25 per STEEM with BTC at $10300.
Nothing impossible in this world especially cryptocurrency world 😅
If somehow bitcoin were to lose its status as king crypto, then it could happen. Not counting on it though.
You know what I glean from this? Steem's largest move came from listing on two of the largest exchanges at the time.
Yes I know things have changed since then, but in the context of keeping it simple...
Get steem listed on more exchanges and we will see bullish things happen!
Yeah, in addition to those two exchanges Inc when they had the cash flow should've gotten a STEEM/USDT pair listed on Binance instead of STEEM/ETH STEEM/BNB pairs which would've been great for traders preferring to trade on Binance over Huobi. Suggested it a few times on slack throughout but nothing materialised on that front.
Personally I would also like to see a top crypto derivatives exchange like FTX list STEEM (Perps + Spot) but we don't have the community push we need for something like that currently.
Perhaps we can still push for a steem/usdt pair on exchanges we are already on, like Binance? That may be easier than getting on new exchanges and will likely bump up the daily volume...
ya its very low then the past few years for sure but this year will be cross all the old records 🤞
Maybe I ma bothering you @firepower but can you please make a post to explain how to buy or sell steem or sbd from my steemit account to my bank account ????🤔🤷