Are you still wondering who's in charge out there???

in steem •  9 months ago  (edited)

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I was messing around a little on Coinmarketcap, checking highs and lows, chart after chart to see if there is still hope...If the bear will finally hibernate....What the hell? We are in the middle of the winter after all...Mainly I was killing my time since I didn't feel like writing anything tonight.

I couldn't help myself but check our beloved STEEM's chart too. I still remember a post from @acidyo a few days back where he stated that he was fortunate enough to buy STEEM at its lowest low, which was almost 22 months back, during mid March 2017.

And indeed, it terms of BTC/STEEM on March 10 2017, STEEM went as low as 5675 Shatoshis, while in terms of USD reached its ultimate low two days later, on the 12th of March when you could buy 1 Steem for 0.069533 $...always according to the graphs. (If I am mistaken please someone correct me.)

2019-01-04 23_35_02-Steem (STEEM) price, charts, market cap, and other metrics _ CoinMarketCap.png

So here we are, almost 2 years later with lots of ups and downs in the meantime, and even though STEEM is flirting with its lowest low in terms of BTC/STEEM quite for some time now (was traded at 6660 Sh during December) still, it is sitting at 0.27$. In fact, even if at this very moment, STEEM goes down as low as its lowest low (always in terms of BTC/STEEM speaking) and being traded at 5675 Sh, still its price would be around 0.22$.

And even if as we speak there was a huge pump and reached its highest high at around 60.000 Sh, still its price would be more or less around 2.5$.

Wanna know why? That's why.

2019-01-05 00_21_56-Bitcoin price, charts, market cap, and other metrics _ CoinMarketCap.png

Because back in March 2017, BTC was worth 1080$, while now is sitting at 3800$. As you can easily understand, if you want to see STEEM fly high you'd better say a prayer for BTC too...

-Both of these examples were given, assuming BTC's price is 3800$-

So...are you still wondering which coin is in charge out there?

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I'm glad you posted this, I was curious what the Satoshi level was last time we were in a rut. :) Thanks!

Unfortunately we are close...

Thanks for stopping by @whatsup

That’s so true man! That’s why, unfortunately, I’m always analyzing Bitcoin and not other altcoins since we have bitcoin dependence 😂
Steem on

Posted using Partiko iOS

And it's going to stay that way until steem is bought and sold independently to bitcoin. Hopefully going forward we will see it happen when people realise how much there is on the blockchain and want to invest in it directly. If the need is there and a profit to be made somebody will create it.

Posted using Partiko Android

Maybe this will help people understand how important it is the Steem/Usd pair to be created

  ·  9 months ago (edited)

Some people say that 2019 or early days of 2020 will be the year(s) that Bitcoin explodes up to mythical proportions! Well, all that is just theory and predictions for now, but you never know. HODL at all costs ;)

https://www.standard.co.uk/news/world/bitcoin-investors-still-positive-about-future-of-cryptocurrency-as-it-marks-its-10th-anniversary-a4030726.html

Ironically, even if Steem isn’t destined to skyrocket on its own,maybe Btc will send it to the moon;)

Από μόνο του πως να ανθίσει ρε συ; Με αυτούς τους βλάκες τον Νέντ ή τον άλλον τον Ντάν; Έλα να είμαστε σοβαροί ρε συ!

This post has been included in today's SOS Daily News - a digest of all you need to know about the State of Steem.



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