Traders EXACTLY confirm Steem Price around 1,10 USD July 1st
Traders seem to be very, very predictable lately... We are exactly in the downtrend. Traders with no vision will dump Steem down to 1.10 USD. 7 confirmations on resistance level and 4 confirmations on the support line leave no doubt...
The question only is what happens after July 1st...
if SMT's come out
If this is the case I think there will be a Mega Rally to the Top Ten in Rankings... But to be honest I do not have any idea when Smart Media Tokens will be out... If I had to bet, I would say they need time until at least december... the progress I have seen is just not enough... they are still far away from getting this done... but when they come out and it works prepare for a 100 USD Steem! (Just in case ;) )
if SMT's are NOT out
Steem will continue along with the market... depending on where it breaks out of the triangle it might rise a bit to 2 USD or sink to 0.25 Cent if the traders see some good pattern and the launch date for SMT's still has not been set...
If you think 0.25 Cent is ridiculous let me remind you that Traders are NOT like Hodlers... Traders dumped Bitcoin when it went from 30 USD to 1 USD... So this is Steems real 1 USD... In Steem it is 0.25 Cent. If this happens this will be a super buying opportunity... Right now if you wanted to buy more I would wait to 1.10-1.15 and perhaps leave some money in the pocket if it reaches 0.30 Cent...
People are stupid and perhaps they need 3-4 years more to see the benefits of this technology. Until then it can still drown quite a bit. Open more aliases and fill slowly up your position for when SMT's come out.
This is only my opinion and no investment advice, what is your opinion?
Nice analysis, but I think you have to consider other factors as well. Pretty much every blockchain is connected in terms of price action. I get the feeling Steem will break out before $1.15. Would be interesting if it really was this predictable though.
Last time it did not get to the very end either... but in general traders follow in absence of news the trends like if it were a law...
I agree that price usually today depends on the bitcoin price. But Steem should rise in the ranking from 35th to 5th... it came from being 3rd... if it was 5th, it would be in the billions as of today.
Please Upvote➜https://steemit.com/christianity/@bible.com/verse-of-the-day-revelation-21-8-niv
seem like some development announcement is about to come from the steemit team lets just hope for the best
Cool, where have you heard about that? We could have an impressive rise if SMTs are close to be released...
You can check out @ned profile you will see the update