Much Of Crypto Is Down But Steem Stands Strong!
In A Sea Of Red, Steem/SBD Stand Strong
Although we have seen some recovering in bitcoin and the cryptocurrency markets in general the past week, the market is still someone stagnant. Sure, we have seen a sea of green a few days this week but it has often been followed by a red day that erases much of the progress upward that we gained. I believe that during this period some coins and projects will shine through the dark, and I believe Steem is one of them.
My Theory
My personal theory is that there is going to continue to be a massive growing interest in Steem/Steemit. Back in Nov/Oct/Dec we had a MAJOR explosion of new users to cryptocurrency. News outlets were blasting positive news all over the place and it was one of those times where consumers felt like it was just too easy to make money and you had to buy some or miss out. The problem was, it was too easy and we knew that couldn't last forever. I believe many of the new people were shaken out and lost some of their original crypto and probably now ignore the crypto markets. But I believe there are still many that stuck it out and are still around. Because of this, as people that are "new to crypto" research projects and look for legitimate coins/tokens, I believe they will undoubtedly come across Steemit and will possibly fall in love with it. It takes time for people to figure the program out and see how it works, but once they do figure it out, what is there not to love? I remember the "wow" feeling I had when I first got to Steemit and saw what it was. Still to this day I am amazed with the platform. It gives opportunity to people all over the world and its a rather fair and unbiased opportunity in my opinion
What Is Responsible For The Uptrend?
As you can see, SBD is the coin that has risen the most in the last 24h on poloniex. Steem is also on the list in the green and the majority of the other coins are in the red for the day
It's very hard to say what is actually responsible for this recent uptrend in Steem and SBD. Either way, I like it and I bet you all do too! I really hope this uptrend continues and my personal belief is that this is going to be a great year for Steemit and Steem! Lets hope this trend continues and good luck to everyone!
Thank you for reading! Leave a comment and let me know what you think is responsible for the Steem/SBD price currently!
I hope we experience a period of steady price increase for both steem and sbd. The markets have been very volatile.
I guess the reasons are good independent ratings and that people can see here, that they really can use a blockchain daily - something that is very special on its own. I just can agree to your thoughts and say, that I feel very much the same. 😀
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Im new to steem but it feels like such a great community. I think a big part of it is that it is working product not just an idea like alot of coins. The community seems to run itself which is great. I think your right that alot of people got into crypto recently due to the 'fomo' and then as soon as it started to fall weak hands left screaming that cryto was a bubble. Crypto isnt going anywhere and steem is so solid I can only see it going on to bigger and better things
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Hey mate. Yiiew, how good is it seeing this SBD pump!
The SBD pumps have always been totally independent to Steemit itself. Korean exchanges seeing SBD as a low price, low supply coin and smashing the buy button. Content creators like us benefiting on Steemit, are just a byproduct.
Exciting to think that this could be another precursor to another huge Steem rally. Stay strong! 💪🏻