That's the big question on everyone's lips. Because on the face of it, things look decidedly muted for us. I'm talking about the divisive upcoming hardfork as well as our spot on coinmarketcap plummeting like there's no tomorrow. However, I still do hold a lot of faith that we will get that inevitable pump in price kicking in some time soon. And it's not based off blind chants of "STEEM is gonna moon!!!". No, here's the real reason why...
I'm quite sure it won't be because of our developmental improvements, although it's always nice to have that in place as a reason why people should pay attention to the STEEM token in the future. No, why we should eventually move up in value is simple. The entire crypto space is one big speculative bubble. And it can be divided into two distinct parts. Bitcoin and the alts. Even though some alts managed to pump during the recent Bitcoin rally we experienced, make no mistake. The altcoin market is a single entity unto itself. Bitcoin goes up, the alts usually tank. Bitcoin down and vice versa. We're but a small part of what makes up the completed picture called the alts. And with that said, altcoin season is definitely on it's way.
I remember in 2017 when Bitcoin first went on a rampage and the vast majority of alts remained stagnant. All that changed soon after though, as we all witnessed the surge most people were waiting for. And it was across the board. Anything and everything was pumping in price, regardless of use-case, coin attributes or development agendas. It was a free-for-all and I absolutely expect this is happen again, until the masses reach a point where they are able to distinguish one digital token from another, based on their own personal criteria. And we are far, far away from that world, right now.
It's easy to get swept up in the euphoria of the crypto markets if you're in it for long enough. So much so, that it can even breed an air of complacency within us. I mean, for myself anyways, I simply can't do any more explanations to people I know, on why the crypto markets might benefit them. Most have no interest in them anyway, which I'm sure will change once Libra hits next year. If you're in the crypto markets for enough time, there comes a point where you imagine this whole space to be much bigger than it really is. People find their coin and consider others in the space as rivals. We defend our digital discovery to the end and lambaste anyone who says otherwise. When really speaking, we are all just one and the same. A purely speculative gamble in a tiny economic arena, with the intention to convince an unsuspecting world that we actually matter. For now, most people out there haven't a clue about Bitcoin or how to buy and store them, leave alone making informed comparisons to it's numerous counterparts.
But maybe this is a good thing for those of us looking to make a quick buck. When the big investors throw bucketfuls of cash into these markets and public sentiment gradually turns around again, it won't just be Bitcoin leading the charge. Anything in the top 100 will have an opportunity to scream into the heavens as a sudden influx of capital will balance out the rest of the crypto space. Sure, a lot of it will be "dumb money", but the overall effect will be the same as in 2017. If the price increases are substantial enough in regard in Bitcoin, you can bet all the other big money will want to venture into the next possible crypto asset superstar. In fact, a lack of market knowledge may actually turn out to be a good thing for most digital tokens during the next altcoin run. It will all be speculative to an investor. Red or black, odds or evens. Because a spread out, evenly distributed portfolio, in theory, holds much less risk. That's why I think STEEM, if for no other reason, will literally be swept up with everything else. So STEEM back over a dollar some day? Why the hell not, I say?
Some day, the speculative factor should take a backseat to more realistic and tangible ones. Like what can it actually provide in terms of value or what are it's intrinsic qualities separating it out from the rest? But we're a long way off from there. Until development and real world use-case means something that any lay-person can relate to and fully comprehend, it's all about placing your bets and cashing out at the right time. All the best and good luck, my Steemian peepz!
it will but it might take a while until it does. Im hoping it takes out the ATH next time around but by which time bitcoin is going to be up at 50-100k. Again this is speculation.
Exactly, buddy. Bitcoin should be first out the gate and with the way things are looking now, the bulls are really charged for a nice run. The alts will follow and no doubt STEEM should be part of that.
It's all about exchanges and their trading bots.
Simple as that.
Just look where most of steem sits.
Crypto 101 right here.
We just need to get our bag ready.
Some will be empty and some full of gold.
I don't need to tell you who will hold the empty ones.
Lol, these two statements need to be etched in stone... :)
Checking back in, I knew your post would resonate with me.
It’s good to see others still confident in not just steem, but the entire market in general.
A huge reason that crypto currency stopped being talked about after it tanked in 2018 is because Facebook and google started blocking the ads we were all seeing.
If Facebook is going to have a digital currency don’t you think that all of its users will start trusting cryptocurrency again shortly after?
Thanks, brother. The way I see it, these markets just ain't mature enough to be scrutinised as much as others. Hence in altcoin season, everyone's a winner. And yeah, after Facebook introduce the masses to the concept of crypto currencies, it can only be a good things for the space as a whole. :)
I think STEEM to $1 is fair and we will get there considering the fact that the dollar itself loses its buying power and value over time that also ads to us reaching that target. I think that this bear market has removed a lot of the projects with no merit and scams, then as time went on the ones who didnt budget or provide value stagnated and disappeared.
STEEM has soldiered on be it limpingly which I don't think we give it enough credit for, this was a brutal turnaround and we've become a stronger community for it. I have invested in a number of other alts that I feel have merit but STEEM has become more to me than just an investment, its fun, the people make it worthwhile
It feels like we're all a bunch of hobbiests here just messing around, eventually those hobbies become businesses, it happened with YouTube, with drop shipping and a whole list of internet businesses.
So a dollar? I think it's fair!
The "fun" factor is one if this places most unique selling point. Direct and enjoyable engagement between different people and groups. Tell me another blockchain that offers this level of user communication and activity right now? :)
Yes it will! Thanks for your concern
Posted using Partiko iOS
Correct! People are still not aware of the use case of this cryptos. Cryptos are more than just an asset.
I feel like the market is prepping for an all new early 2017 alt season. Hodl on to your Steem, I say :)
HODL all the way! :)
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One of the most important thing is Steemit need to stop selling every months to cover their operation cost. The supply is too high for the Steem to reach 1$ at the moment!
Posted using Partiko Android
When big investors move in, all that excess Steem will flow into their hands. Right now, there is no volume. Wait until that changes. :)
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