(LWC) ✪ STEEM PRICE ANALYSIS & Why STEEMIT Will Become a Monster! ✪ [Blog #2 - 24th June, 2017] *REPOST/UPDATE
Welcome to our Daily STEEM PRICE ANALYSIS
Saturday 24th of June, 2017 - UPDATED
Saturday 24th of June, 2017 - UPDATED
Current price of STEEM and SBD on CoinMarketCap.com
STEEM's price today, Saturday 24th is at $2.11 with a 1.65% decrease in the last 24 hours.
It is currently ranked #16, by Market Cap which is at 496.62 million, with a 24 hour trading volume of $3.06 million, climbing 1 rank from yesterday's #17.
SBD's price today, Saturday 24th is at $1.72 with a 1.41% decrease in the last 24 hours.
It is currently ranked #219, by Market Cap which today is at $4.21 million, with a 24 hour trading volume of $528.50 thousand.
Let's take a look at the 24 hour Chart evolution of STEEM
We can see a pretty big downward spike in price. Such a quick drop resulted after a large amount of STEEM was sold. Not a big deal, as markets tend to correct. It just put us back by about half a day worth of gains.
By the end of today the market should correct itself and we should recover the loss.
Let's take a look at the 24 hour Chart evolution of STEEM DOLLARS
We can see a pretty big upward spike, alongside with increased trading volume in the last 24 hours, which SBD clearly lacks, followed by a correction, which in this case is a downward trend. On the good side, the most important indicator in the long run is the volume. The more it's traded, the more popular it gets, regardless of outcome (going down or up).
How STEEM and SBD evolved over the last 1 hour, 24 hours and 7 days
Today's bottom line:
STEEM and SBD are doing well. A steady increase in price in the last week, without signs of a correction coming. It is caused by the fact that people are returning to STEEM (after the successful - and beyond successful Hard Fork 19) now that it didn't crash and burn.
Keep in mind that the POLONIEX trading platform still has the deposits/withdrawals temporarily disabled, and so the volume of traded STEEM is quite low, as POLONIEX has the largest trading volume out of all the trading platforms for cryptocurrencies.
Once they re-enable STEEM deposits/withdrawals you will see a high spike in trading volume, and regardless of the outcome, as right now, it's anyone's guess if people will jump to withdraw and cash out their STEEM or just be rushing to buy more, it means that STEEM is doing well. The more trading volume, the better any "asset" does. It's like publicity - there is no such thing as bad publicity!
Here are some useful posts about STEEM and STEEMIT that might help you
- STEEMIT Activity Chart of Daily Blog Posts in 2017 by @stephenkendal
- STEEM vs STEEM POWER and Weekly Price Analysis by @lifewithcrypto
- STEEMIT KEY INDICATORS GOING UP - New Records by @arcange
And also if you're interested in seeing how the traffic is going on STEEMIT
- DAILY STEEM REPORT JUNE, 24TH ★ STEEM 2.21$ + 3199 New Accounts by @elyaque
- Steemit Statistics - 2017.06.23 by @arcange
Yesterday's STEEM PRICE ANALYSIS
That's about it for today! Hope to see you tomorrow :)
If you found this post useful, and would like to support me towards my Road to 10,000.00 STEEM POWER you know what to do!
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Very good analysis for STEEM. Been temporarily disabled the deposits/withdrawals at POLONIEX that has the largest trading volume is a small problem but i think will be resolved. I think that the returning STEEM investors and the end of the correction will get STEEM price higher the next days.
That's for sure, yes! We will see a lot of volume once POLONIEX fixes the withdrawals/deposits. It will swing both ways, both in and out. But any kind of volume is good volume :)