STEEM at 100 USD //Realistic or a fools hope?//

in steem •  2 months ago

I have been thinking lately about the natural progression of token/currency price fluctuations in the crypto market.
You could boil it down to 3 things.

  1. ICO launch and the initial price spikes followed by regular drops in price just after launch.
    This is a fairly common thing and Steem has experienced it as well. Of course Steem had it a bit worse due to the controversy (that shall not be spoken of) and it took a ton of time to recover, even now, you could say it hasnt recovered fully.

  2. You have the everyday market sentiment, ie. is BTC bullish or not. Almost all "established" crypto currencies are bandwagon assets that move up and down, on day to day basis based on expectations in BTC price fluctuations.
    This ofc im not a fan of since this means that crypto is still and infancy market driven by speculators.

A tech market that doesnt care about tech

.3. And number 3 of course is the occurrence that happens when a crypto presents something revolutionary. A major upgrade to the code, a major addition to its existing infrastructure, with appropriate marketing strategy thats key to spread the word.
What this does is create buzz, a major ripple in the market, a disturbance. Based on how well the novelty is presented, how well its hyped and how well the core problem it solves is tackled, the reaction is always FOMO.
That new addition to the existing infrastructure could be viewed through the effect it creates as a new ICO launch.

In a crypto market as is now, the only way to break from the regular bandwagon effect are strong and calculated bursts that create outward interest.
Meaning... if you expect STEEM to moon without implementing new radical, even revolutionary ideas, you are sorely wrong. It will not happen.

Thats where SMTs come into play. Steem has a very solid infrastructure and even now its one of the most technically advanced blockchain projects with a proven use case. It has the greatest potential of all the projects to bring forth mainstream adoption.

What do i mean by that?

ETH at 100$-500$ doesnt mean anything for the regular pedestrian. He couldnt care less.

But STEEM on the other hand is a different beast all together.
From what ive seen, when the STEEM price triples, active user count doubles. Now consider a 100 times STEEM price jump.
That would completely change the face of "Blockchain". The number of users would multiply drastically. The payouts alone would create such an immense "Fear of missing out" that you could expect a massive drain of users from sites like facebook, wordpress, Twitter, etc.
This would bring so much attention to the crypto market as a whole that it would spill over so much you could start to look at blockchain, finally, as a mainstream adopted market.

And the funny thing is that this... could happen over a extremely short period of time as seen with other examples.

I would say its not far fetched to say that eventually speculators will come to the realization that even their holdings in other cryptocurrencies would benefit from Steem at high numbers.

So yes. Id say STEEM at 100 USD isnt such a far fetched idea. Will it happen? I havent a clue. Will SMTs succeed? Even less of a clue. What i do know is that the potential is there.
And im not saying the potential is only there for Steemians to make a quick buck. Im saying that the potential STEEM has to change the look of the whole crypto landscape is equal to none.

Will investors realize this? Lets just hope so.

Dis not financial advice. Dis just some thoughts in me head.
(never take seriously someone that misspells sentences like this) :P

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