STEEM Is In A DownTrend
Yes, STEEM is in a downtrend. The weekly barchart on Bittrex shows the price is down on 10+/- BTC volume. What are Your thoughts on yhe price of STEEM. Where do You see its price heading this summer?
Yes, STEEM is in a downtrend. The weekly barchart on Bittrex shows the price is down on 10+/- BTC volume. What are Your thoughts on yhe price of STEEM. Where do You see its price heading this summer?
It might be because the dollar value of bitcoin is rising. Alts tend to fall when bitcoin rises against the USD
This is a large part of it. Steem was quite stable at 40 USD cents for a while even though the BTC-denominated price was dropping rapidly (BTC was rising). The other part is that liquid Steem is designed to have a weak price since it is has no anti-dilution. Dividend-adjusted price charts on Steem Power would be useful.
I know some new folks are following this closely, but coinmarketcap cannot really express the actual value. All it shows is the activity of a few people buying or selling the liquid currency, which is not a relevant snapshot of the growth or progress here. We can see this is growing pretty quickly with the new users coming in and helping to build the site. My attitude is 'wake me up on July 4.' That's when I'll check the price again.
What's to stop the price from falling after 04 July, when many will be able to convert their Steem Dollars to Steem in order to cash out to BTC? Even if only a small percentage of people do this, won't it flood the liquid market? And given that the big payout will have already happened, won't demand for Steem be lower than it is prior to July 04? Perhaps I am missing something...
Nothing important