In The Last Bull Market It Took Steem 7 months to go from $.07 to $8
The Alts are getting some action and Steem continues to move with the overall market. Not at the fastest pace or the slowest pace, but it's moving.
Here is the current chart using 4 hour candles on Bittrex.
I don't know what will happen in this season, but people are talking about Crypto again and many things are different.
For those of you who don't remember $.07 or were not here yet... At the low we had about 5000 posts per day. The first price adjustment came when Dan Rage Quit leaving a cryptic post on SteemIt.com. The next day the price was $.26 from there we hit a dollar fairly shortly after and the price and user activity flowed up with the rest of the market to our peak price at $8.
User activity tracked with the price or vice versa, recently I've seen several former Steem Users coming back, and if the price pumps or there is a lot of press, you will see how fast the former users come back...
"Hey Everyone, I've been really really busy, but I'm back now!", announced FormerUser.
Personally, I will welcome them back. The bear market on Steem was not a pretty thing to watch, and I can't find fault with anyone who started to doubt our ability to survive, or just didn't enjoy the culture.
However, those of you who stuck it out, now have the advantage of active followers and more Steem if you held. So, it will likely work out perfectly.
As more people return, content will again improve and become more competitive, the votes will spread out more and stakeholders will have to decide between influence and profits.
It's going to be interesting!
If you think all the infighting calms down when the price goes up... Well, wait and watch the more people think the value of Steem is going to go up, the more they fight over it! :)
What are your thoughts and predictions about Steem in a bull market?
I put SGD200 when STEEM is like 11 cents. Now I'm grinning from ear to ear.
Nice! Congrats, I'm grinning for you
Looks like things do start to pick up. With the low Steem liquidity things can get out of control fast.
It will be interesting to see how everything plays out :)
Plus steem is much more addictive now...
That liquidity sure does pose an issue! A few big buy orders and you’ll smash sell walls like crazy and you know the herd mentality kicks in and you never know how far these runs can go
I'm watching. For many here they have never seen Steem in a growth cycle, so some will be shocked.
so true, I saw us at the peak when i Joined then it went on a slow death spiral downward.
Look forward to seeing Growth Cycle ;)
Looking forward to being surprised
7 month?! So one should start powering down about halfway through then? ;P
I think with a potential bull market, we will once again see some "decent" new users (judging by existing following on other platforms) try out Steem. I hope that this time, we will make it more of a priority to make them stay too, first by providing fast signups (guest logins) for their followers so they don't face the same barriers as before, and second by providing alternative monetization options that grow with actual views, engagement or subscriptions (the open seed people replied to me that they would be very much capable of building an alternative to Patreon on Steem, I would love to see that happen).
Other than that, I hope whatever passion people get can be used to make some noise outside our bubble too.
If we can get instant accounts and instant messaging with openseed and resource pools for dapps as well as SMTs the onboarding barriers are lowered and then we can roll out the welcome wagon
Great points
I think we are in a better position now to retain more, and in this cycle we retained more users than the one before. Rinse, Repeat
I also think people will come back again to play the Steem game. At that time we will be ready to receive them, more powerful than them, of course.
Haha, you play you pay!
At this point, I have zero expectations. Price increase likely, sure. $8? Not holding my breath. But would pleasantly welcome it... :-)
I was just hoping for around 0.35 cents so we can get a working SBD peg but if we're going to go buck wild, id say 3 dollars isn't impossible. I can't imagine hitting 8 again would be hard to keep hold of my steem at that price
Why wouldn't we hit $8 again? I am not promising we will mind you, but I can't rule it out. I know we have more Steem on the market now than before, but still liquidity is pretty low.
Why I’m a bit apprehensive over the 8 is because yes it would need more capital than the last time to hit that and with tokens their will also be a new price affect at play! Surely they will all rally too and the internal selling and buying should affect the price!
But stranger things have happened in this market and I’d be happy to eat my words if steems peaking to 8 or 10 bucks!
Why is $8 hard to expect? That would put us at number 10 in Market cap as it stands now. Thats really not something hard to believe could happen.
we going to 100$ steem
2 years
Then we going back to 2 $
Case closed !!
I wasn't here at 0.7 but I have stuck it out this time round and yes, old steemians are coming back which is awesome. I am hoping that we get it right this time and get steem to a place where it can never go lower than a dollar. Can't wait!
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Price doesn't really matter if you plan on holding. But.....it would be so nice to see dollars instead of cent....it is moving...enjoy the ride, even if it does only end up going up the road instead of the moon
I mostly agree that price doesn't matter, but the market has changed a lot.
This time there are 3 versions of bitcoin as well as 3000 ish tokens, we are not in the top 10 tokens so there is such a thing as remaining at least somewhat relevant
Like moths to a flame they will come, but as soon as the price dips they fall off like the torched carcasses of moths who encountered the zapper. The activity/price correlation is seemingly a human nature issue.
Lol I used to feel bummed by the way those steemians acted and then I realized how all they do is make more liquidity once they dump on the market and I’ll pick it up all the same! They’re a part of growth and I don’t mind it now one bit
Well said, I even heard the bug zapper in my mind!
We need a Steem Bug Zapper for reals! That one+ benevolent whale that goes and squashes the little zit bugs that seem to swarm opportunity.
:D i do miss some of them.
So do I, there are some I hope to see, others not quite as much.
However, I'm will to be inclusive in order to get traction and activity up.