Are we heading for a long-lasting downtrend when we look at the course of steem? Hard to say. After all, it is the cryptocurrency market we are talking about. Perhaps, on the basis of market and market data, we can estimate the direction we go. So let's see what trends are on a yearly basis.
Once upon a time, steem was worth no more than 10 cents. As a result, purchasing power was much higher, and one could buy a 10x larger portfolio than now. This course developed in the first year at a price of no less than 2.20 in June, then descending again until September / October to the starting price. If this pattern would repeat then, regardless of progress on the platform then that is bad news. However, things have changed. For example, the bit price has risen sharply by no less than 1000% since last year.
The steemit platform has more users now. During the month of June to July, 100,000 new accounts have been added. Would this be the general hype that occurs when summer, and the weather forecast is more enjoyable? Are people more optimistic? And what's the share of marketers and vloggers / bloggers who are promoting the platform? As we can see, the month May to June seems to be a major leap in the course. We all noticed this. Those who have adopted a lung position in June will be annoyed. The month of May through June is an excellent month for all cryptocurrency.
Keep on creating
Steem is growing by content. As a matter of fact, steal is reduced when activity occurs. Now we see a slow decline in the number of posts, with a growing number of users that is not good. As long as there is less activity, the value of steem will decrease. The more it deals, the more this will strengthen the price decline in a downtrend. It is remarkable to see how many whales are taking their capital that stays in steem power. For a number of days, I have seen a post in which of the 200 whales 80% take their capital. Fixed capital is just right for supply and demand with larger fluctuations up and down. Regardless of whether this is counted in the number of coins in circulation.
Programmers are awesome
The number of apps and tools that have been added in the meantime should make a contribution to creating content. With the amount of spam, bots and useless posts, good content remains difficult to get the value it deserves. Whoever does not save 500 or 1000 stems literally does not have any voting power and will not be interesting. When someone who takes a lot of time and effort in creating excellent posts, and uploading and not or hardly promotes, the new topic will quickly be overshadowed. Time after time. Somebody with a job and less time to continue, therefore, can lose interest faster than usual.
still, it is remarkable to mention that whales are taking their capital in this period, just after July in the trend down to October. Do they do this because they know it will go that way? The markets are ruthless and promising when it comes to them. So let's hope this will not happen.
pictures by @penguinpablo