Steem down, Steemit up

in steemit •  7 months ago

It's been a heady few days watching the Steem price rise to almost $2. I've seen this happen before. It's been over $2 before, but also been down to 6c in the time I've been here. The cryptocurrency markets are notoriously volatile. Even the top coins can swing by a huge amount in a matter of hours. The recent Steem rise doesn't seem to be driven by any particular news as all coins have been boosted by Bitcoin getting pumped. All the news coverage has brought in new investors eager to get a slice of the pie. They may have been caught out by this 'correction'.

Steem

Meanwhile, the Steem Dollar is still on the rise. It's been higher than this at times, but this is way off what it should be. It's meant to be pegged at $1, but market demand has driven it up. That's bad for anyone wanting to use it for transactions where the value is predictable, but it's been good for those of us getting rewarded with SBD for our posts as we can exchange it for Steem at a great rate. Don't use the 'Convert to Steem' option. Use the Market to buy Steem at the current rate. You can around 5 Steem for 1 SBD at the moment. If you believe in this platform then you will want to power that up so you gain some influence.

SBD

The use of Steemit is on the rise. The number of visitors has started climbing again. I reckon we need around 200,000 daily visitors to reach the top 2000 globally, but certain countries are doing much better. Steemit is pretty big in South Korea. I'd be interested to hear if it's getting much media coverage there. It's also growing in the UK and is now in the top 1000 sites. Other promising countries are Netherlands, Belgium and Nigeria.

Hypestat

I just found a positive summary of Steemit on Technowize. It's not a huge site, but it all helps. Hacked also had a good article recently. There are a fair number of Steemit users in Germany even if the site doesn't rank as highly there. A story from a respected German newspaper may boost recruitment.

I'm generally optimistic. Don't worry too much about the fluctuating prices. Concentrate on creating good content and engage with others to create a vibrant platform that will be attractive to new users. They should feel that it's going to be fun even if they don't initially make much money. After all, they use every other site for no reward. We're preparing for Hard fork 20 next year when Steemit will be able to handle millions of new users. Then we can really kick off marketing it to the world. When they realise there is an alternative to the ad-plagued sites they could come flocking in.

Steem on and on and on!

I'm Steve, the geeky guitarist.

I'll buy guitar picks for Steem Dollars

If this post is over seven days old you can vote up one of my newer posts to reward me.

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I joined Steemit at an amazing time, thats all I can say. It was right in October when those DDOS attacks were happening and before the new look. So I got a taste for what the "Old Days" on Steemit were like. It's been a fun ride so far and I've enjoyed watching all the improvements being implemented. I think Steemit has a lot better of a chance succeeding than some other Platforms we've been involved with...

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I've been here a while and seen a lot of changes. I'm excited to see what happens next

I was really caught by surprise about the price of Steem and SBD i'm not complaining though i just bought about 25 Steem for about 5 SBD.

Awesome write up! I need to start using Steem Market for my conversions. Shared and tweeted!

thanks @steevc
very good job steem and steem dollar market analysis,following for updates...

Steem and SBD price high or low, we still steem on.

There is been a great FOMO for non steemians as they see steemians converting SBD into fiat to have a good time. I can't tell you the number of calls I've gotten from people these few days concerning steemit

That fork with the golden spoon is still missing.

The speculation in Steem Dollars has also served to increase the visibility of the currency and the platform, which served because many did not know the platform. Now I'm sure that more than one outside Steemit's world wondered what Steem Dollars was for.

The high speculators are playing with the wrong currency must be Steem that is at a higher price. Although the SBD is more volatile due to its low supply of 3,639,221 SBD in circulation. A small sum of BTC can raise the price as we have been seeing. Maybe we'll see it soon at 16$ if its trend continues.

is hard fork 20 and smt will be at same time?

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Not sure if they depend on each other

Slap me in the face, I have just converted all the SBD in steem and now converting it into steem power.
ROOOOOOOOAR.

I think the value of this project can increase big time in the long term.

There is no other social media’s that rewards users for their content and participation.

As more and more people are aware of this site, it’s user base will increase, and with that, it’s value.

Apart from that, the crypto market it’s still in its early stages, which means it’s value will also increase big time, helping everyone involved.

I believe this way of doing social media’s is he future. I am here for the long term!!!

This recent rise may give Steem some visibility at least. Let's welcome these new stemians appropriately!

Very good information and just continue to Steem on!

Right now it is: $13.76 USD (109.63%)

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That's crazy. I should have kept some, but never mind

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As the western world wakes up for the day the korean world is going to bed so the market is already starting to drop again... $12.30 USD (86.40%)

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And just that quick it is now: $6.80 USD (2.70%)

Thank you for sharing this I want to learn all I can, have a beautiful day

Steem dollar = $11.84. Upvoting bots will have a party today who took money from dumbs like me :P