Steem still looks like it's a sock puppet standing on castlerock
Steem can be a cry baby sometimes.
Market is ringing bearish from point a to point z and its gonna look that way for the time being. Why still hold on to steem? some people ask! Well I wouldn't be in a good position to answer that as someone who has really suffered from the red market bang but I do have one or two points to hit as regarding to steem.
When I heard the word cryptocurrency was first through steem. In my earlier blogging days, I knew steemit as a blogging site for earning a few bucks through some form of currency steemit offered and this brought me to the question of where steemit enterprise did get their income from. Was it through traffic I asked? I wasn't to sure so I had to make research on how steemit worked and then I heard for the first time the word cryptocurrency. Then, it looked like a reliable source just for the fact that it was bringing a good income. Then, steem was about 4$ and the steem blockchain dollar or steem backed dollar was about 8.86$ and you could say those where the days. Funny enough, we did imagine steem hitting about 20$ as well as the sbd cause we had to hope to say the least. To some point, I got bored about articles just talking about steem being able to top BTC and other top currencies as a versatile crypto coin cause of its transaction speed and 0 fees required for transaction or third party leverage of any sort so it became quite the news.
It's no surprise steem can't hit any milestone at the current state. I guess @stellabelle was right, It gonna really take till next year to see the limelight so nowadays, I just look at steem encouraging articles as a pile of garbage dusted on our face. Now hold on, I'm not saying steem is trash. At this reddish market, just don't get your hopes high about steem that's the sad truth. look how steem to btc pair has dropped the previous months, It's an ever increasing drop and steem hasn't been able to even manage a good base for some time so don't hope on steem cause I think the steem/btc pair is about 1150 satoshi currently if I'm not mistaken. On the long run it could get better though.
I would really love to be very wrong on this one though so let's discuss on the comment section. What are your thought's about steem as a coin in the current market state.