With the price of Steem Dollars at recent all-time low, and way below the price they should be tethered to ($1 USD), it seems that the market has oversold. Does this imply that the rubberband will pull us much higher, as shorts close, and FOMO strikes the hearts of many? Perhaps. Does this mean that we're at bottom, or close to it? Likely.
Let's explore the debate together, Steem friends, in today's early video!
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I think the price of cryptos will continue to increase until there are new people joining it.
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LOL. Reddit will adopt this model soon for sure.
Best,
fefein
I wouldn't count on this happening, dinosaurs have a hard time adapting
Agree I don't see Reddit doing this. While I'm spending more time on Steemit and actually prefer it to Reddit I'm still wrestling with the question of whether money and the ability to get money corrupts everything ie is Reddit a better place for consuming content because the focus is content and not monetary gain?
Have you heard about Minds or Gab? I think they are trying to copy Steemit, apparently minds has a way to earn I don't believe gab does.
Personally, while seeing the little dollar signs next to each paragraph might make us feel greedy, I really do think that having them is good for bringing in new people into the STEEM market. No Joe-shmoe is going to give a crap about the number of Steems he gets with his posts... until he adopts into the community. And by that time, he's hooked.
Even though content creators on Reddit are rewarded directly with karma only, you think there's no monetary rewards indirectly to be gained in getting your content to the "frontpage of the internet?"
I'm not saying there's no benefits but getting a meme to frontpage isn't gonna do much. If you can write a great post, provide a ton of value and subtly drop an affiliate link you can make a bit of money but honestly I don't see majority of the content being stuff that is monetized. I suppose growing your account allows you to have more reach but I don't see people making money off Reddit as easily or in the same ways as Steemit.
No way.
That train has left the station.
Only steem to be seen.
Nokia failed.
Kodak failed.
Myspace failed.
Will we see the addition of Reddit and maybe couple more giant social media platforms here thanks to Steem and platforms built on it? (SteemQ, Steepshot, Steemit, Zappl?) What a day that would be! So the list would continue like this.
Twitter failed.
Youtube failed.
Instagram failed.
Medium failed.
Facebook??
One can dream ;)
Is there a blockchain based search engine already?
... then add google to the list.
the rules just have changed.
Steemify it!
What will happen to Steemit if that happens ? Will it become history ?
Probably
This is exactly my sales pitch to everyone I know.
Nice
I've been loading up SBD but when to switch my SBD to STEEM POWER that is the question?
I've been doing the opposite...
How do we know whether to buy Steem Dollars or Steem? Is it 1:1 so I just buy whichever is cheaper? Also stupid queestion I'm sure I could find this online but I'll ask anyway, does 1 Steem equal 1 Steem Power or is there a conversion there as well?
Liquidate your 401k for cryptos.....
I seriously just did this!
Its going back up today and tomo
and it did btc +500$, eth+90$
Waiting for aug 1st so the btc can take a beating and steem can get the deserved rep. Things are going to get really strange really aoon. Buckl2up and wait for the ride to the moon :)
Cheers and much love from me □3 Goldie
Steem and SBD should be the go-to cryptos when others tumble!
SBD Isn't a crypto
What is it? Im a little confused on the distinction between SBD and steem power
I think @rawpride is saying Steem is a crypto Steem Dollar is more a token just for this site, I'm probably using the wrong terminology but I think that's what he's getting at, I could be wrong though.
Someone still believes SBD will be valued at $1 again? With supply going up, I wouldn't bet on it
It will be, all things go up and down
Thank you for spreading a little positivity today :D
I believe we have hit the bottom. Eth will not go below 100 and sbd will not go lower than 80 cents. This is where the weak hands get shaken out and we can buy all our tokens super cheap. This is good for the crypto space in my opinion. We get to see who the real believers are. Thanks for the update Omar!
I could see Steem going to close to $0.50 cents, not saying it will happen but I think its a possibility. It seems like Bitcoin and in turn all cryptos have kind of found a floor but any controversey leading up to Aug 1 could spook people and cause a dip lower. Also as we get closer I think people will get more nervous unless things get resolved.
Going down another 50%
I think this largely was based on the hit BTC has taken. I don't see Steem going much lower either. If it does though I'm ready to jump in and buy some up at such bargain pricing!
BTC UASF, Eth bubble popping, Alt coin bubble popping, it's a combo of things. Low prices will entice the bulls back in and drive things back up in time. FOMO will shoot us higher for a new correction :) Rinse, repeat
The price of steem will definitely go up , that i belive
I'm thinking $10 next year at some point
BUY! BUY! BUY!
Hope your right with your prediction. It's crazy how even the smallest amount of speculation from external sources can disrupt the entire crypto market. With any luck they will all be back up soon.
Great post
I am looking closely at SBD, be a great buy :)
3 things currently consoling me in this down market:
1.LTC to BTC ratio is still increasing and nearing ATH
2.ETC is increasing against ETH
3.Steemit is still just as fun as before
from giphy.com
Time to have fun & HODL STEEM!
Thanks for your post sir @crypt0 :)
He who calls the bottom should be prepared to catch the falling knife.
Nailed LOL..
Yep, I bought the bottom at $1.55 and again at $1.05 lol
Just buy!!!
If that's the reason why steem value is so low, then why is all the other crypto amounts so low right now? Even bitcoin has dropped quite a bit.
If not bottom close to it likley. But remember the BTC fork situation has people running from bitcoin. I thought it would help other Crypto but maybe it will hurt. Either way it will be back up. Another 15% tops in my opinion
I mean down another 15% tops not a limit of 15% when it's back up. Sorry for any confusion
I have been buying both Steem and Steem Dollar as it has been dropping. Cannot pass up this opportunity, and calling the bottom is too risky.
The market is extremely unpredictable right now. Multiple factors are responsible for the price movements. Let us just watch till August ! We need to eliminate bitcoin fork related panic.
We have a week to wait for the results.
@crypt0, this all seems like a bunch of alt coins suffering from the "sheep effect" because of uncertainty surrounding BTC. Bitcoin going down? Everything else follows... I would expect a lot of volatility and possible further downside till the whole "Is BTC going to split?" issue settles in August... it just seems odd that the alt. coins don't really have "legs" of their own...
Guys this is not how markets work, we will hit bottom when all the 'buy the dips' guys actually start selling when they can't take anymore losses. The real holders will be those who bought so cheap that no matter how low it goes they won't be losing money. The ones holding on losses & hoping that buying dips will make out for their losses will sell on the despair phase when the bubble completes. We are months away from the bottom. Market cap should be at the very least 30B & eth less than $50 usd. This model has repeated many times through history, I don't think it will be different for crypto...
What makes you think that the dip will reach a lowe of 30B?
I was thinking 60 would be the low?
This. is now the second time i have seen this reference. Very interesting.
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I want to buy more Steem but I'm not sure how low it can go because I want to buy when it's lower. :/
That's the million dollar question and if any of us knew the answer we would be sitting on a beach and probably not here typing on Steemit lol
Your girl friend is so cute... You are lucky man crypto... :D
I don't think the daily FOMO means the downtrend is over, but I agree we might be close though, the end is near!
FOMO is a bitch, I've been catching knives for the past week lol
Well updated news, excellent.
Nice post crypt0! i just wonder what how the world will embrace the adoption for segwit2X and maybe the hard fork! what is your guys opinion on that? here are two useful article that i found online and on twitter:
http://www.trustnodes.com/2017/07/16/viabtc-will-support-bitcoinabc
and this
http://www.trustnodes.com/2017/07/15/bitcoin-will-hardfork-big-blockers-will-chain-split-meet-bitcoinabc
its great time to buy all currencies and make great profits in future
Good point with the steem dollar could be a good way to evaluate gonna keep track of it :)
i reckon some of the whales must be selling off in a big way to be causing price drops like this - am now following you in support
New ways to earn . Hope it will not vanish
Outstanding article. I do believe with what many have said here, most of the weak hands have been shaken out and here is the point where crypto believers will fill their bags with as many tokens as they can. The ones they like they will load their shopping carts with and wait for the FOMO train to continue!
Congratulations @crypt0!
Your post was mentioned in my hit parade in the following category:
I personally would not use SBD as indicative of anything that is going on in the wider market.
SBD pretty much as a life of its own. With some treating it as a pegged asset while others treat it as just another coin to speculate on.
Not to mention its lack of meaningful liquidity.
hahhahahah/ nice one @crypt0. thanks for sharing
going up now?
First time hearing the rubberband effect idea,
I'm just holding onto everything for months from now!:)
I think all the prices are gonna go up....and go up high
steem dollars today have a good price
looking forward to aug 1
Seems like you were right Omar! The market has certainly increased in value since you published this post :)
@ronni
Crypto market every year falls down during summer and expecially in July, but what matters is that in the other part of the year it goes up.. :)