Steem (STEEM): To Make Us All Rich In 5 Years
SUMMARY
Steem (STEEM) is carving out this exquisite Key & Handle formation. The long-term forecast is shown below. I use a logarithmic chart to normalize the price variations to height. The "key teeth" we see now are nothing compared to the "keychain". This one can very well be the key to your financial freedom. Such formation truly is a sight to behold. A phenomenon not yet seen in the cryptosphere.
IF this is correct, there are basically two pathways the price of STEEM can follow. Who would have thought, right?
Okay, let me explain myself a little bit here. This obviously is not a Technical Analysis of any kind. This is a post made for @dragosroua's May 30 days writing challenge that has been going on for 9 days already. And boy, has it been a blast.
No Technical Analysis, Then?
Well, no. I'm sorry but I really am not a good analyst. I'm wary of any predictions, as they can easily succumb you into deep tunnel vision which really is no good thing. It's better to be aware of all the possibilities, rather than to focus on one idea that may never come true. With this in mind, I always strive to keep my eyes and mind wide open.
The future is unsure, that's for certain. At least something is. It may very well be that we are on the brink of something truly extraordinary. There are, however, circumstances we need to keep in mind.
UP
Now, this is the scenario we all want. It is where everything goes as planned. HF20 brings us all the new goodies. New updates make the trending page healthy and free of spammers and reward pool rapists. (I'm not making any accusations here, just to be clear.) SMTs make their big entré and we all celebrate our victory on an island in the Carribean. Because, why not.
All of this and much more may very well be just a matter of time. But in that time, there will be people making decisions that will have a great impact on things. I believe there is yet much to be done in the world of technology and I wish STEEM is a part of that future.
Now, as much as I would love to see STEEM price go way up in the hundreds as many people are predicting (wildly guessing), I really don't think that's what's going to happen. I'd say around $30-40 USD is a safe bet.
DOWN
The down direction variant is not so much appealing. Even though this would probably not make us all go bankrupt, it would certainly change many people's lives. Maybe back to where we started, maybe even worse, who knows.
I've already mentioned some of the ideas I had on how Steemit could burn to ashes. Much of it directly correlates with the core of Steem. And I don't mean blockchain here. I mean people.
It could very well happen that Steem becomes this bot-rotten self-upvoting place. If this happens, it may even happen that nobody will actually want to buy your tokens.
As you can see, there really is no certainty in where things will go. I wish for Steemit only the best, but simultaneously, I am being very cautious and sensible about things that are happening around here. But let's not get ahead of ourselves. For now, let's enjoy the present time that we live in.
Legal Disclaimer: I am not your average haejin. Content in this article is NOT presented as financial advice. The information provided in this blog post and some other posts I make is for entertainment purposes only. Please note that some are actually meaningful and worth reading, so I would appreciate it if you actually read them. When taking a loan to buy into cryptos, one should always consult with his own true haejin. Plain English: I only made this for fun. I apologize if it made you uncomfortable, but that's just how I am. What does this mean? It means I don't give a darn about how you spend your money or if you lose all of it for that matter! I'm just here to entertain people so please, take this post with a grain of salt. Or a handful, if you're a fan.
My previous posts in the challenge
May 30 Days Writing Challenge - Day Eight: What’s Your Most Consistent Hobby For The Last 5 Years?
Do you know the difference between investing and speculation?
What Are My Top 5 (More Like 3) Witnesses On Steemit And Why Should You Care?
What’s The Best Thing That Happened To You Thanks To Steemit?
May 30 Days Writing Challenge - Day Two: If You Had 1000 STEEM, What Would You Do With It?
That's funny! I like your technical analysis. That's the sort of thing that makes sense to me. You take the keychain and then comes the logarithms. Yep, right there with you.
I don't know which way it will go, but I'd love to have a Caribbean island to retreat to. We'll see. I'm not going to hold my breath though. ;)
I appreciate both the up and the down side. I think a lot of people see only one side or the other, and don't try for both. I suppose its possible for one side to outweigh the other depending on our own experiences and concerns, but all of that should be recognized to. Only pointing out what is and then working through the differences can anything be resolved. Good points.
Thank you. I had the same feeling from what you wrote in your article. Not really making predictions but rather discussing what's what.
Did you think my article feels incomplete? After re-reading it I can't help but notice there could have been more.
For example after ending the down paragraph, I wanted to add a point, yet I forgor about it.
It didn't seem incomplete to me. There's always more we could try to do. I don't think the challenge is particularly designed for exhaustive research and then making all of those points, anyway. We're basically working with a pretty small window of opportunity, between when the prompt post gets published to when we realistically need to have ours written so it will be seen.
So, I wouldn't get too concerned about it. As is, it's not like you can't write another post about it later down the line when you might have more to say and when you might get more attention on it, too. :)