AND THE STEEM COMES TUMBLING DOWN - time to sit tight?
As I write this the STEEM/USD is 1.02935164... Is it doom and gloom? Well let's find out.
Potential payouts are getting smaller, some people re panicking, doubt lingers in the aura of some steemians, steem dollars in conversion to steem are disappearing (not sure if that is to do with the price though). But is it all to do with steem? Not as much as people may think.
The best information I have found on this are the Steem Daily Forecast from @bateman which I follow every day now. In these reports he discusses technical analysis of steem price as well as post numbers, SAT, and new member trends.
His main theme today is that descending value of steem for the time being...
He says that steem has fallen past its previous low of 55000 sats ("Sat" is 0.00000001 Bitcoin. It is the smallest unit of Bitcoin.). And it is predicted to fall to 45000 sats. But there is a silver lining. This is a real opportunity to do some short term trades for people who are in the financial situation to do so. Which will be good for the platform in the short term.
I love his sharing of his knowledge on the Macro Events on the whole cryptocurrency world. His latest is that prices of crypto are lowering to return to a mean after an all time height. And that all of the top 20 cryptocurrencies are strongly based on the price of the Bitcoin. That has a little more space to fall.
In the meantime, be patient as rewards will be noticeably less. This too will pass :)
in a [more optimistic post}(https://steemit.com/steemit/@stephenkendal/steemit-soon-we-will-be-punching-through-250-000-registered-accounts-and-this-is-why-i-have-set-a-minimum-target-of-650-000#@cryptowolf/re-yoda1917-re-stephenkendal-steemit-soon-we-will-be-punching-through-250-000-registered-accounts-and-this-is-why-i-have-set-a-minimum-target-of-650-000-20170710t093532110z) from @stephenkendal, he points out that steemit is in for good times.
He says that steemit be punching through 250,000 Registered Accounts. And forecasts that there will be a MINIMUM Target of 650,000 Accounts by the End of the Year. That is good news...
As always I believe that great posts like this generate great conversation which is more important than the post itself. @@@stephenkendal, @borepstein, and @cryptowolf bring forward some excellent points...
So on this aspect we are in for good times :) The prices will rise again, and with our great community becoming so strong in numbers even if a fraction of the huge numbers are active with their own unique talent the interest base in all topics will increase and this place will be crowned and running strong among social media platforms and the digital world...
I hope this article has brought you some useful information and some peace if you are one of the steemians who is a little worried ;)
Upvote, follow, and most importantly resteem so more people get to see this in the short time that this article has.
Hope to see you all in the comments section.