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RE: STEEM: 1-DAY MACD could be about to go green (soon!) on poloniex.

in #trading • 7 years ago

Excellent analysis as usual! I bet you're glad you got that extra Steem Power when you did :) It's definitely hard to say what will happen to the price of steem, but my untechnical view is that it will slowly and surely incrementally increase in stages and then at certain junctions it will experience a steeper jump in value. What will be the catalyst to drive the next price leap? I'm not sure...maybe even more user growth?

My view is that one of the reasons why Bitcoin and a lot of the other cryptos are rebounding now is because there's good news with the whole Bitcoin SegWit thing.

I think overall there's still a bit of a bubble what with the ridiculous amount of new tokens/coins coming out every day now. I think there's a lot of good, viable protocols/apps/coins mixed in with the bad but right now everything in the space is on fire. This will flesh out at some point and many will fall but the substantive, useful ones will be really successful (I'm hoping I'm only betting on those). That's my two cents of where things stand anyways.

7 years ago in #trading by
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     7 years ago (edited) 

    Haha...well I bought some steem power under $0.50, then some at over $2.00; then more in between (so I couldn't give an exact figure on my ave. buy in price).

    As for STEEM, i have somewhat mixed expectations. I am fully committed I just worry a bit with new users giving up if they don't earn much...along with a bit of a possible tragedy of commons thing were steem power is concentrated too much, and not spread out enough...but this was a problem that's always been present due to the bad launch method. But let's see... I don't plan on selling any steem whatever!

    As for crypto, news is not the only thing and certainly not the main thing that drives long term price imo .... instead, there are natural repeating cycles of hype. I have a feeling that this is dying down...but it's possible we could get another burst later in the year.

    Thanks a lot for your comment 😀

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