I have a theory - I admit I may be wrong, but sounds reasonable at first.
2017 has bought a lot of attention on blockchain technologies, which may have had an impact on Steem. Hence the market cap increase - but when hype was gone, speculation went away, as well, stabilizing the currency on a lower level.
Then again, not sure if I'm right, but as you can see, in the last few months it was nowhere near to the late May spike.
I'm almost definitely convinced it was "just" hype.
No way, I mean I'm not saying cryptos are old. It's just the beginning, but the very nature of every hype is like this. Many people join the "hype train" without any further knowledge in the given matter or subject.
When they realize the major drawbacks (most importantly that there is no "easy money" in crypto), they leave, and this cooldown causes prices dropping.
Actually, I think it's happening in any market, when sudden price increase happens. It's some sort of bubble effect, and can be quite ugly sometimes, think of the Great Depression, or the Dotcom Bubble of the early 2000s.
Yes, volatility of crypto is unnerving, but also hard to avert, I think. This is why I prefer investing in them only for the principle, the support, or for very long-term earning.
Becoming rich should not be a major factor for the average Joe to join the blockchain. It's much more important than money.
[Thanks, but I'm not expecting you to follow me for the sake of following, do it only if you're interested in my posts.]
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STOPThank you, :)
I have a theory - I admit I may be wrong, but sounds reasonable at first.
2017 has bought a lot of attention on blockchain technologies, which may have had an impact on Steem. Hence the market cap increase - but when hype was gone, speculation went away, as well, stabilizing the currency on a lower level.
Then again, not sure if I'm right, but as you can see, in the last few months it was nowhere near to the late May spike.
I'm almost definitely convinced it was "just" hype.
It did good to the community, though.
It would be possible!!@katamori
You say that crypto currencies are getting old.Returning to normal.
No way, I mean I'm not saying cryptos are old. It's just the beginning, but the very nature of every hype is like this. Many people join the "hype train" without any further knowledge in the given matter or subject.
When they realize the major drawbacks (most importantly that there is no "easy money" in crypto), they leave, and this cooldown causes prices dropping.
Actually, I think it's happening in any market, when sudden price increase happens. It's some sort of bubble effect, and can be quite ugly sometimes, think of the Great Depression, or the Dotcom Bubble of the early 2000s.
Then again, I'm not an expert.
I see, there are very sharp changes, sometimes it is annoying.
I think,
So, All we have to do is meet the calm.
Thank you for your comment this, I ll follow you.
Yes, volatility of crypto is unnerving, but also hard to avert, I think. This is why I prefer investing in them only for the principle, the support, or for very long-term earning.
Becoming rich should not be a major factor for the average Joe to join the blockchain. It's much more important than money.
[Thanks, but I'm not expecting you to follow me for the sake of following, do it only if you're interested in my posts.]