STEEM is rising in value faster than BTC....
Recently we saw BTC Drop from just over $20,000 down to just over $10,000 per BTC.
Following BTC STEEM also saw an all time high within the same time frame. Then saw a 6 week low when the prices of cryptocurrencies dropped.
Now, just take a look at BTC...
Still a little above $11,000 per BTC and that is after a week of being around $10,000 after have fallen from $20,000. So we saw a 50% drop and then a 10% bounce back...
Now here is the exciting part... Take a look at STEEM!!!
We saw Steem rise to over $8 per STEEM and then fall to below $3.60.... butttttt, then we saw a bounce back as well. A bounce back to over $6.41 (24 hour high as of right now) and stabilized at around $6 as the charts above reflect. That means it almost tripled in price then dropped only 35%. Now if you look it is already climbing again and almost back to where it was doubled.
I guess what I am saying is not only is there more money to be made for big time investors but STEEM is being traded and percentage wise valued a lot more than BTC.
This is HUGE... Why you might ask? This means that more and more people are seeing the value of STEEM and the value of this awesome social platform and flocking to it... but they aren't just here for the money like the bulk of the people you see getting into BTC. They are here for much, much, much more. This is not only helping to stabilize the value of STEEM but it is building the community which in turn continues to help STEEM grow... and quite rapidly if you ask me.
This news should be very exciting to everyone... but wait... there is more....
STEEM IN TOP OF ALL CRYPTOCURRENCIES!!!!
As the above screenshots show. Not only are gaining value but we are gaining fame and traction in the world. Even several marking websites have us ranked in the top cryptocurrencies in the world. As you can see one of the big ones have us now at #25 in the world.
This is not just big news....
This is a reason to stay here, blog, share your life... earn and most important of all. Keeping building the community!
Smart people are here at steem long ago. But wait, this is just the begining. Wait until the SMT gets fully launched. And think where we get once it comes to wide adoption.
My imagination hits the ceeling once i come to this.
Nice read mate, I too noticed that Steem and SBD were both climbing during BTCs crash, I'm curious to see what would happen if BTC reached $50000 by the end of the year, whether we'll see that passed on to Steem,SBD and the other alts, or whether it will kill them.
BTC could soon be dead imo... I am unsure though, what I am more impressed by is that STEEM grows more and more on its own terms and no longer mimics what BTC does. Usually to see STEEM up in price it is because BTC has a mirrored price percentage increase. Recently the percentages are WAYYYY off, and it is in the favor of STEEM. I am shocked to be honest...
Haha, that meme though :P
That's my biggest fear, what happens when the coin that pretty much all alts are compared goes under, who takes its place? Steem, SBD, XLM (well steller maybe but supply hurts it) have all gained over the last week, but they dont have the volume. Naturally people will think Ethereum, I'm not so sure because you've got coins like NEO who are basically the Chinese Ethereum, and Asia has the biggest volume of cash in the #crypto world. So it's going to very interesting where will be in 6 months
I have to agree very scary if you aren't watching closely. I know there isn't the volume at the moment but think about BTC when it started out. There wasn't much volume either. What makes the price rise for everything is when there is a lot of demand but not a lot of volume to cover it. It is the same for BTC and for STEEM. Who knows what BTC holds in the future. I can only imagine what time will tell. At this point I can tell you that there are a lot of eyes on STEEM and ETC as well as many other currencies.
The biggest advantage that STEEM has at the moment is a social media platform that you are now a part of. With this platform it gives us a HUGE community backing it and that does a lot more for the value than most realize.
Maybe with all the chaos at the moment everyone will realize that the people are the most important part.... and STEEM has a lot of people simply because of Steemit. ;D
I've only been playing in Crypto since early Nov 2017, was lucky got in just before the spike. But have been pretty well engrossed in it since. With STEEM's supply at 264mil and market at 1.5bil there's plenty of room to move. And you're right again with the platform, just need to convince reinvest their rewards into STEEM power, or other wise every new fish will never get anywhere, and lose a lot of love and sell out. I'm lucky because I know ausbitbank from high school and he shared me on to his follower base. That would be a good project to set up if there isn't one already. Steemians with 2000/3000+ followers adopt a plankton and share them to the world.
Yes for sure lucky you got in before the spike. Means anything you acquired then is worth a lot more than it was.
I love the project idea and would love to see someone take up the idea and run with it.
Still a bit in front, yeah :-) would've been better if I didn't have the hodl point of view and sold at 18 and bought back in at 9 like it was last week. meh, the things we learn lol.... I run the idea past the P.A.L chat and see what they reckon, are you in the Discord Chat?
Nah, I am kinda socially disconnected from the people here on steemit. I have a lot of friends here but I usually only talk to them here on steemit. Maybe I will join and chat with some people. If you had a link feel free to leave it and I will see about it another time. I stay pretty busy most of the time so it is just easy for me to pop on here and type replies and then forget about them till I see more pop up in the feed. :D Got a few great conversations ongoing at the moment but for the most part I don't use voice chat.
Thanks too for the message. Am sure by the middle of this year your excitement will double this. With the number of people flocking into Steemit these days it means more and more people will see the value in Steem and that's good news for all of us. Keep blogging, keep earning, keep investing. That's the message I got from your post today.
Tis the message I am sending not just here but everywhere I go! :D
Thanks for the great post. I've heard that there were two main factors, not really related to BTC as a coin. It was partially a pump and dump by investors dealing in illegal BTC futures that ended on the date of the fall. Also, four years running, the Asian New Year has caused a dip at that time. So, that may be why BTC ended up being somewhat disconnected from Steem, but whatever it was, I'm grateful!
Awesome input, I have to agree with you that the Chinese New Year has always affected the Crypto World in a negative way. A lot of people selling off assets when they are usually buying them.
I do believe there are a lot of factors here when it comes to the disconnect but either way I loved seeing it and now STEEM is right back to the price it was before the dip.... well almost. :P
Time will tell but I feel like STEEM and Steemit are about to gain a lot of traction. Like you said 50,000 people a day is a massive amount of people. One small city per day being added will soon make us a state... then a country. :P
The Country of Steemit.... who would have thought, we should invest in an island. Call it STEEM island and invite everyone to live there! Wouldn't that be a nightmare bahaha.
All I got to say about that is, "Got any more of them $14 Steem Bucks?" LOL bring it backkkk!!!!
Yea, wouldn't that be awesome! Oh man this place would become a madhouse for sure! A good thing no doubt.
Not only that but google searches for steem and steemit are at all time high peaks. Plus the steemit.com alexa ranking is climbing higher and higher. I checked and it has gone from 1330 to 1186 in the last 10 days.
Point is, steemit is hitting the big time! Load up the truck with STEEM!
Could not agree more with your analysis. The quick recovery looks very bullish for Steem in 2018.
I agree completely, the quick recovery is not only a good thing but it shows that not a lot of people sold out during the scare. It also shows that a lot of people are now buying.
Thx for the post.. nice to meet by the way.. I hope steem will be $10 soon. this will make dreams come true..
With what I am seeing in the markets and prices as well as with the quick development of STEEM and Steemit I think we will see the price rise a lot higher than $10. Although at this moment I am unsure... I can be sure of one thing. Steemit is growing faster than anything else out there.
Good news! Steem on
What about BTC, everybody connect it with crime when you don't have more information.. Even though it's going strong... I agree it's not good for crypto, but this war we also win.thanks for shareing by@timbo
definitely, 2018 is the year for the Steem!!