You are viewing a single comment's thread from:
RE: Steem statistics for 6 years
Thank you for the valid remark. It made me look into this question in more detail and this is what I came up with:
The blue line is the number of published posts.
The red line is the price of STEEM.
Now I would not make such unequivocal conclusions. 🤔
In my opinion, the current Steam price graph seems to reflect the influence of the entire coin market as well.
To check the price fluctuation graph due to the internal situation of the Steam ecosystem, how about controlling the influence of the entire coin market (if possible)? :)
For example, below is the Steam and Bitcoin price graph taken from CoinMarketCap.
Although there is a difference in the height of the graph, the Steam price graph since 2021 seems to be related to the fluctuation of the Bitcoin price. This is because it may have risen due to the overall coin market situation, such as the rise in the Bitcoin price, rather than due to the internal situation of Steam.
Thank you!
You are definitely right. The price of the dominant cryptocurrency, Bitcoin, has a huge impact on the market of all cryptocurrency. STEEM is no exception. However, there are other factors as well. For example, during the last bull run, the price of STEEM was significantly higher. Let me guess that the maximum price of STEEM of this bullish phase (if it continues) will be much lower than the previous one.
We have a lot of work to do to increase the appeal of Steem. This is the task of each of us 🙂.
I agree with you. Thanks! :)