STEEM is recently lagging in bull market. Even few months back it was around ranked 20, it is now close to 40 that means 20 some coins have seen bigger growth than STEEM. STEEM is purported to be the most active blockchain in the world and lots of developments going for STEEM, then why it is lagging to other coins? Marketing? Lack of exchanges? Inflation (9.5%) supplants user growth, therefore, not enough user growth? Skewed distributions, old whales are still selling?
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Pricing action of the market reflects nothing more than the pricing action of the market.
Why is SBD, something pegged at $1, trading at $9? Because the market decided it.
I wrote an article the other day to ignore the pricing action of the currency. STEEM is now $3.20 whereas it was $.85 6 or 7 weeks ago. The progress is the same now as it was then, just the market decided that it wanted to push up higher.
As long as the progress on the blockchain keeps moving forward and the number of people on here grows, eventually the pricing action will move up. I would say it is under valued at the moment compared to where it should be.
A lot of time fast runs in a particular asset means nothing more than a bit of publicity.
Yes, I'm a novice; and, I spend lots of time researching; but, the answers aren't always clear.
Question: Is the market primarily controlled by investors?
So, you suggest keeping eyes on the price of STEEM, more than SBD for actual growth.
Question: Do you suggest HODL even if the SBD drops the STEEM value back to pennies on the dollar?
It's been a great run up for the past few weeks. I have to say I want to preserve what I've accrued; and, would love to be able to learn how to use the openledger.io and bittrex exchanges with more ease.
Posts such as this are definitely welcome, and a refreshing exit from the 'in-fighting' many are finding themselves in the middle of recently. My go-to mentor is in the midst of one; and, I feel like questions such as this would only be a distraction.
Thanks for the work you do!
Peace.