Well, looks like my last blog prediction is true, all be it a little before expected. I was guessing that steem would fall as low as 20 cents by Christmas, but its almost there now and we still have a couple of weeks to go. But the trend in crypto decline is market wide and still continues.
Of course, you may see this as positive or negative, depending on your investment intentions, and of course, you would only be interested in a bottom out prediction if you are waiting to buy - so what's to be expected ? Well I find it really difficult to imagine now that steem won't go all the way to 10 cents sometime soon, and probably hold there for a while. I think Human nature dictates that people will find it very hard not to re invest at 10 or 15 cents, and so any 'real' market value can't be assessed until we see that kick in and re inflate steem, if indeed that's the case.
It is worth a mention, and I know its not new news, but remember also that 'steemit inc' laid off 70% of its staff just last month. Obviously you wouldn't do that for a daily trading anomaly, so it would appear to be considered more than a little glitch even by steemit - after all you wouldn't lay off 70% of your staff, if you expect to have to re employ them again the following month.
Anyway - I believe we are now looking at a 10 to 15 cent price point on steem either over, or shortly after the Christmas period. Lets see. But all other things being equal in the crypto world, steem would be the exception rather than the rule if it were not to follow this trend.
I am coming for a few days to Kodai next week, you better sell me your Steem, you can buy back at 10, from somebody else off course :-)
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I would gladly do that, but its steem, I can neither transfer or sell it :( I was also thinking of buying some in a couple of weeks with cash, but I don't have the facility, or the cash for that matter :) and blogs don't earn a red cent these days O.o I suppose we should question the sanity of it all.
I'm really interested to see how this all unfolds this next few weeks, I think the crypto map is going to look completely different in 2019.
A lot of people and companies are falling out of love with all and any currencies just now - Companies that were previously venturing their capital on block chain products are getting cold feet, and many of those that have already been financed are now failing due to lack of investment and interest in those products. It's understandable of course - its all pyramid venture after all.
I did mention steemit inc's dramatic staff reduction last month, but they aren't the only company doing this, so many others have similar or worse issues just now, so whatever system is being employed by whichever company, it needs to be robust.
So I think it's a game changer in many respects, not just the usual fluctuations, I'm expecting some big changes, as this will really separate the wheat from the chaff, and in January we'll have a slightly battered but clearer landscape :)
Anyway Bup, do pop in when u visit - I'm off tomorrow for a couple of days, but return on the 11th Monday, so I hope we're in sync.
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