Most over valued and under valued coins in top 50 by market cap: Part#9- $100 STEEM by the end of 2018?
STEEM has seen almost 2000% or 20x growth in 2017 from $0.15 to $3. If we see similar growth then STEEM should be around $60 by the end of 2018. However, according to my favorite fundamental analyst @taskmaster4450, STEEM will rise to $100 by the end of 2018. However, I am little bit conservative, I see STEEM between $20 to $40 by the end of year 2018. If STEEM becomes $30 which is still 1000% growth from $3 today. At $30 STEEM will have market cap of $7.5B, 10% of ETH's market cap. STEEM to be there, SMT should be a considerable success story similar to ETH's ERC20.
Being a LTC miner and trader since March 2013, I have seen LTC at 0.5 and rise to $380, that is 760x or 76000% growth. Therefore, though I am not uber-bullish like @taskmaster4450 but I am not leaving out the possibility of STEEM being $100.
However, even if we reach $100. I would split $100 a STEEM as the following step:
People/Market become aware of STEEM: It is faster, scalable, secure and has more utility (savings, powerup, delegation) than BTC and LTC. People know about few coins at the top through news outlet. The rise of steemit.com's ranking in US and world, mainstream media will write more about STEEM. It will create awareness about STEEM. Potential STEEM price: $5-20
Better management of rewardpool: There are huge controversies about self and proxy vote. Though spams and plagiarisms are well managed, blatant self-vote or proxy vote such as "Place holder" or "Cute" or "Welcome to Steemit" still can earn $20-$150. It does not look good to new investors and new users. Therefore, at this state, STEEM's reputation will not get better. Therefore, if STINC, witnesses and community can find better solution, we can literally stop such abuse, Steemit can make a good pitch to investors. I believe in 2018 we will find a better solution. My own suggestion is to make $2-5M SP fund (i.e. by few whales or STINC) to downvote such abuse and it is not express of freedom, it is abuse of freedom. $10-20 a STEEM.
Bigger exchanges: Some of the bigger exchanges adopts STEEM such as Bitfinance, Bithumb, Binance etc. A single coinbase can bring STEEM to $100. However, I don't believe Coinase will bring STEEM in 2018. However, if STEEM reaches to 3 Bs (Bitfinance, Bithumb, Binance), it can easily break to $20-40.
Large userbase: In 2018, Steem blockchain can gain 5-10M users. Users can grow exponentially when signup process get easier and network effect takes place after hf20. It will put steemit.com's rank to the moon, so is media coverage and floods of new users. $40-60 a STEEM.
Success of SMT: If SMT can bring some of the biggest names from Media, it can then really shoot STEEM's price to $100. Media companies, specially news outlets are starving for profit model. Moreover, companies love blockchain, for example, blockchain adoption just in the name quadrupled a company's stock. Therefore, if lots of SMT based ICO get success and SMT based ICOs can compete with ERC20 based ICO, STEEM will see meteoric rise. Finally, if few hedge fund managers like story of STEEM as next FB maker, Wall Street money chip in and STEEM being $60-100 will not be far fetched.
There are too much if and then, therefore, my bullish assessment is that we will see some of the events mentioned above. Finally, we may see STEEM rise to $30 ($20-40), a 1000% or 10x growth from current price.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: All images are open sourced (e.g. Pixabay) with Creative common license
Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger
Quite an analysis! I also believe that if most of those factors are achieved in 2018 then steem will be $100 by year end. Listing in other exchanges and the adoption of SMTs by media companies would be a big changer to steem's price.
Yes, exchanges are quite a parameter. For example, though DOGE is a meme coin, its trade volumes is quite high being traded in 100s of exchanges.
As much as I wish STEEM to succeed, I think it´s still way too complicated for the mainstream. I´m now here for only 3 weeks and being way more experienced with blockchain/social media than a mainstream user, I really had quite some problems to adjust. Still havn´t figured out everything yet and I have invested quite a lot of time/money to keep up - that´s nothing near what a normal mainstream user would do (most likely quit already). I´m still open to learn and adjust though.... Maybe all this will not slow down the growth of the coin, but as soon as you´ve got a real product that comes with a coin, you have also the disadvantage that everyone can see, where you are at...
Yes, it is complicated. However, few objective facts can really help: no. of exchanges and trade volumes, number of users, Alexa ranking etc. However, subjective issues (self-proxy vote) will be solved with few adjusts in future hard forks and actions of Steemit Inc. If I can buy 3M Steem, I would put 2M SP to downvote absurd comments with self-proxy vote. Therefore, any big whale-investor can solve these kind of issues by him/herself. When platform will get better and get more attention, these kinds of structural abuse will be solved with proper actions either by communities, or STINC or whales/investors.
Good points - let´s hope, that the system is really regulating itself through its users :)
This is a very good analysis and with some good suggestions...but it only get few dollar upvotes. This is the sad part of steemit when Whales could not notice you.
Good job! Thanks to @theia7 you have planted 0.13 tree to save Abongphen Highland Forest in Cameroon. Help me to plant 1,000,000 trees and share my Steem Power to the others. Selfvoting is prohibited, but that should be the reason to spread the world to protect our precious environment. Check out profile of our conservation association @kedjom-keku and the founder/coordinator @martin.mikes to get more information about our conservation program. My current SP is 14466.49. Help me to plant more trees with your delegated SP.
Thanks a lot,
your @treeplanter
www.kedjom-keku.com
Hi buddy ,, happy to follow every post you ,, best regards by @simarhaban happy new year
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