Historic low?
Today I wondered if Steem price is at an alltime low right now. So, I dug into the history and checked some charts at coinmarketcap.com. And in USD, Steem has been way lower, even at 0.07 USD in march of 2017. It could still go way lower, if it really gets bad. But I am not a pessimist. So, I searched for the last time when Steem was tradin just above 10000 satoshi. And there I struck gold!
Last year, on december 2nd Steem traded at 10317 satoshi. Which is just a few satoshi lower than the current rate in BTC. The price of BTC was already at around 11000 USD at that time. But it's what happened next that interests me most!
2 months later!
A few days less of two months later, Steem was trading at a whopping 54000 satoshi. Which is an almost 500 % rise in 53 days!
There was a historian that said: "History repeats itself". Well if this scenario is back on the table, then we are going for a fun ride.
Do I think this will happen? I have no clue! But I do know we shouldn't despair and look at the bright side. And who knows, in a few months, Steem is trading at 3 $ again, or maybe 6 $?
Sincerely,
Pele23
Fingers crossed.
@acesontop fingers crossed!