Is steemit having trouble?

in steemit •  9 months ago

Recently I have noticed huge price drops in steem and sbd which isn't really a bad thing in the short term but it has me wondering. Is steemit actually in trouble? I hear that they are banning crypto advertising and hopefully that doesn't apply to us considering this is a blog and not just a cryptocurrency. I guess we will wait and see what happens over the next 2 years. Personally I have some reason for concern but I guess there is nothing I can really do about it other then blog more. DO you personally have any feelings on this drop in price? Or is it not a big deal for you.

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The short answer is "probably not". Steem, a year ago, was worth less than one cent. What you see now is an inevitable dip in what has so far been explosive exponential growth. A lot of heat is coming onto crypto, and the hype is being corrected by things like taxes, so this is causing a major sell-off. I think we'll begin to see things move in the opposite direction before June.

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That would be nice to see.

It's an expected drop and will bounce back past $2.40 by 420.

Actual reason behind this fall is the dip in Bitcoin. Recent scams and Mt Gox scandal has caused all this turbulence...

Yes, I notice that Steem is dropped as the payout keep on decreasing. Most likely is influence by Bitcon, perhaps.