Why is steem lower than sbd right now ?
Img source : nano.do/mop-intent-aroma
Actually, there are several reasons why the price of STEEM was really depressed in the past year. The price dropped by almost 90% from the beginning of 2018.
1. Bitcoiin Prices Also Decrease Drastically
It is undeniable that Bitcoin, as a pioneer of crypto currencies, and dominator in the crypto market, has become a strong reflection on the market. So, when Bitcoin (BTC) drops dramatically, the majority of altcoins will also experience the same thing. That also happened at STEEM.
2. Approaching the End of the Year and the New Year
Almost everyone will exchange their investment (including investment in crypto scope) into fiat currency, for year-end, Christmas, and new year needs. Of course there are many offers from current demand, so STEEM is also affected.
3. Investors Move to Another Crypto
For this point, I think it is quite reasonable because the STEEM network does not really grow new innovations over the past year so investors turn to other crypto currencies. Maybe, after SMT is officially released, STEEM prices will rise, but we have to wait until the first quarter of 2019.
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If you dont want to regret, HODL it till Q2 - Q3 2019.
Why should a crypto currency like Steem always need to bring something new? The most incredible feature of the Steem blockchain is not emphasised enough! The ability to do a massive amount of transactions in as less as three seconds without fees! That alone makes Steem at least worth 10 times it’s current value!
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I think Steem must always develop because its toughest competitor (ie EOS) is really terrible (instant payment, and can process 1.5 million transactions per second). If Steem continues to insist on competing in this field, maybe Steem will lose, and what is needed now is new innovations such as the SMT release, which will create a new independent economy. I'm sure the adoption will be broad.
Of course development is necessary, but we should not underestimate what Steem is already capable of!
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