BTC/Steem: 20 000 – Steem Halving Is Here…
Some people are calculating Steem price in dollars and cents, some in satoshis (the fraction of Bitcoin). In satoshis, it looks better*… But we can calculate however we want, Steem price is nearing the December lows of 21-22 cents. Sad, because Bitcoin is surging nice. It reached 6300 USD today morning, by the Coindesk price index.
The sad reality
But Steem keeps falling in last days, too. I like to watch the Bitcoin/Steem price, the reciprocal value of the more common Steem/Bitcoin, and this price crossed 20,000 yesterday. (As Steem fell below 0,3 USD, and Bitcoin jumped over 6,000.) Bitcoin/Steem was never so high. At the last all-time high, in March 2017, when Steem fell to all-time lows near 0.07 USD, you could buy only 16,900 Steem for one Bitcoin. At the time of writing, you receive 20 800 Steem for every piece of Bitcoin.
(Click chart for higher resolution. IPFS hash)
Ether/Steem showed three high spikes in the past, with prices near 500, or over 500 Steem for one Ether: in March 2017, in November 2017 and the first days of January 2019. But the actual price is also an all-time high here, you get 570 Steem for every Ether today morning.
Mea culpa?
“So, if you ever reconsidered to exchange some Bitcoins to Steem, this may be a good moment” – I wrote 22 days ago, the April 18th. It wasn’t. If you changed Bitcoin or Ether to Steem you lost a lot of money. The Steem value in Bitcoin terms is less than half of what it was two months ago, in March.
But look at the chart again. After every similar big spike in BTC/STEEM or ETH/STEEM, came a big recovery. (After the highs, came big falls, which means, in this case, the value of Steem jumped measuring in Ether or Bitcoin.) If history repeats itself and you change Bitcoin or Ether to Steem now, it is very probable that you will gain.
The right time is now
But not sure. I failed with my prediction last time. But I insist, I think the time came NOW. I will change at least one Ether to Steem today. If Steem falls more in the next days or weeks, maybe I will touch my “family gold reserve”, and I exchange some Bitcoin, too.
Update
I did it, some hours later. I received 552 Steem for one Ether. The margin of Blocktrades was aproximatelly 2.8 percent, quite a lot, but I had no time to struggle with the crypto-exchanges.
(*One satoshi is 0.000,000,01 Bitcoin, or 1/ 100,000,000, or “one hundred-millionth” part of a Bitcoin. One Steem is 0,00004808 BTC today, so 1 Steem is: 4808 satoshi.)(More units here.)
(Photo: Own work)
I’ve powered up 20k steem in the past week and plan to power up 1,000 a day. Hopefully steem continues to drop.
Posted using Partiko iOS
I think it's better to wait for a confirmation of a reversal on the BTC dominance chart than trying to catch a knife that could fall much longer.
We are clearly in a BTC cycle, and that can last several more month or it could change tomorrow, which is why in my opinion it's better the leave the first few % to a lucky guy and go in once we have confirmation.
Steem needs to create a proper business model, then it will go up. Except bitcoin , no other coin is a store of value. Everything else depends on usage and adoption
I am just hoping that the incentives for use of steem get tweaked so more newcomers can have a better time getting on board. I don't believe steem holds much value as a store of value, and the prices seem to agree with me. Adoption of the steem platform with wider variance in content and payouts would really get the ball rolling on this project.
The time is truly now..nice write up
let's revisit this in 10 days..
@remind-me in 10 days
Hey @fuadsm, I will notify you on May 20th 2019, 12:00:00 pm (UTC)
Later! ( read more... )
You just planted 0.10 tree(s)!
Thanks to @ucukertz
We have planted already
7698.83 trees
out of 1,000,000
Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 21150.98
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
Hi @fuadsm!
You asked me in this comment to create a reminder.
It seems the time has passed!
I prefer 10 weeks or 10 months
7k :O
Keep power up and this healthy for Steem
Posted using Partiko Android
if you're looking to hold for the next 1-2 years then now it's the time to buy, otherwise wait a couple more days
STEEM has a long road ahead.
Steem will definitely rise and Bitcoin will come to an end with its ineffective Blockchain
Bitcoin USD trying to retrace back to $7400
I am satisfied with 1 Steem :-). Give my catapult little bit power :-(O)
It happens because there are loads of shitty money-makers and speculators on Steem, and there are few loyal people. If the last ones will be more here, we can become the strongest community
Loyalty, community are great, but many things are functioning well if people are making money, earning some way. Steem system needs incomes, I think.
Yes, and we’re all waiting for them. I invested all I had and go on doing it even realizing my investments didn’t get profit. But with passive income on giving my SP I’m growing the amount little by little every day. It’s a lot better to get 5-6% per year and see Steem growing at least to $1. If it is so, I will get back my whole investment (most of it I put here when the price was $2.5)
Congratulations @deathcross!
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