Time to buy? or Damned if you do - Steem price.
I want to talk about the Steem price and some basic principles.
Before I do that , I just wanted to show you a bunch of people 'selling out' to ride like sardines to the next station. Even if another train were to arrive on the tail of this one, the flow of incoming platform waiters is too high and.... Ahhh! I will just film this mess and hope someone doesn't grab my phone. One guy flipped me off (it's hot out - summer here in Buenos Aires and nobody wants to be jammed in with all those bodies.)
I shot this footage on the way home a week ago. I normally don't go out during rush hour without a wheel under my feet, but there I was with a bag of fresh empenadas in hand wondering how I would get home without arriving with "pancanadas"
This reminds me of people with way too much Steem all jamming into the exchange to sell it.
Okay. Let's get to the Steem price.
We are nearing Black Friday but for the ones who want to have whale-like Steem Power, it has already arrived.
If I were to tell you there is a laptop that was $800 - but if you go now, you can get it for $600 - you would be all over that! But really, the Steem price is that way - but better. The price of Steem has not only gone down, but the stuff you use to buy Steem has just shot up $50 dollars each! Bitcoin was $695 on Nov. 12, and now it's at $747.
The best part is the fact that this is normal. I have been in this crypto space since MtGox's beginning. Most times, when Bitcoin goes up, alt-coins (of which Steem is one) go down.
Snapped a shot of my screen - the only way to overlay Bitcoin onto Steem over 2 weeks.
Most of you remember Steem suddenly breaking its snowballing downward price trend that just wouldn't stop, right?
Everyone was happy back then. But do you know what broke that alleged price crash? Yes, it was a $50 fall in Bitcoin's value.
If Bitcoin falls, I have less buying power to use while buying Steem even if the price of Steem had not shot up past .0003
| Last Week $700 worth | Today $700 worth |
|---|---|
 |  |
| $0.21 per Steem | $0.10 per Steem |
So the price of the Steem you are holding has gone down - no doubt! But when Bitcoin falls again, we will have another rally.
It's not as bad as you think people...
Sorry about the images - I am using a fresh install on a new computer - I don't have all my tools.
100% power up
Until the econ changes take effect Steem can only decrease in value except during the yugest rallys. The inflation rate is like 100% APR now in actuality 160% for Steem to speculation or day trading it should be done carefully. The new rate will be 10% apr making Steem easier for day traders to hold without getting burn
I don't worry about the price.
I'm having fun.
Me too - I don't need it to go up until I hit retirement age.
I thought the steemfest would raise the price of steem, but it doesn't seem to have done anything. I wonder if steemit's marketing dept is slacking and not getting much coverage for steem events?
Thanks for the comment - I upvoted your recent post and followed you.
Actually, I would have been amazed if Steem had gone up parallel to Bitcoin. One can wish though!
good report upvoted and followed