Steem at $6, it's time to celebrate! What is next?
What a great way to start the year with an all-time high in the price of Steem! All the money that was waiting until the first day of the year to invest, has decided that the Steem currency was the place to do it. This is important because this really is just the initial rounds for Steem going forward because Smart Media Tokens have not been launched yet.
What happens when SMT's launch?
We should expect higher prices once SMT's are launched. Then there comes the rounds and phases of projects implemented using SMT's, this is like the later rounds of price appreciation we should see from the SMT event.
In other words, unless you absolutely had to, I do not see any reason for selling Steem at $6.
Whale Selling Pressure?
With Steem, since it is a used currency, we have to consider whether whales are going to do a period of unloading at some point. What this does is it causes stalls in the Steem market, slowing down how fast Steem increases in price. With other cryptos (because they are not actively used), often the whale capital gets locked up to the point we see a faster appreciation in price. With Steem, I believe there is a wide swath of whale capital in general users hands, so this means more capital is available to sell to keep the pressure on price.
This all said, whale capital being sold, should not be able to detriment price significantly into Q1 and Q2 2018, because we're likely to garner interest from outside capital with SMT's hitting. Meaning if whales want to mega-dump, there's apt to be buyers.
I'm looking forward for SMT introduction
Been listening to your youtube channel since it started, took me awhile to get on here and up vote you even though I have been on steemit the whole time. Looking forward to all thequality content your promising in 2018
congrats on 100k subs too!
HAHA, upvote since you're from YouTube. Amen on the 100k subs, I'll take it!
I've been powered down the last 4 weeks to capture some STEEM and its appreciation. Been buying Ether with it. I wish COINBASE gave us more choices!
Your videos are very good - informative and professional.
I'd like to get info on getting more upvotes without using bots.
Thanks for your hard work.
Your videos are great and I consider the professionally done.on
Steem is about a community right now. So the better you integrate with a community, the better your upvotes work. Produce content you like and are passionate about, while being part of a Steemit community. This makes the whole process easier for you and brings more upvoting power your way.
Make sure you enjoy the content you make. If a person just flings up posts without any passion, people can tell and they may lose interest.
All I know is when I had 3000 twitter followers, I went thru them all and most were inactive. The few that were still around never interacted or gave retweets.
My profile under my steemit name says it all. That is what I do / post. If people are not interested in that content, why follow? If you are interested in that content, why not upvote periodically?
So what I have tried to do is scale back who I follow so I can generously dole out upvotes to a more select few. If we all did this that might build a stronger community.
Great post, Ted.
I just saw this article on SMTs by NASDAQ: http://www.nasdaq.com/article/how-blockchain-based-cryptocurrency-can-make-online-publishing-more-profitable-cm895389
This is all shaping up to be a huge year for STEEM. Multiple, established businesses are about to get an opportunity to diversify their revenue streams utilizing the SMT platform. Just a few publishers to jump on board for SMTs is going to create a domino effect where once a few publishers do it and start to see how easy it is, all the big players are going to start doing it.
HODL that STEEM. We're going to see north of $20 this year!
Good catch. Yeah. I was just thinking yesterday when I saw the Steem price start going up, that this uptrend creates the virtuous crypto hype cycle. Meaning, Steem as a currency is likely now fully considered to be in the long-term crypto bull market. By December 2019, I could see $100 for Steem price. I could not imagine that price a few months ago when all of crypto under 200 bil market cap. Now that I see the valuation of other projects, Steem at $100 is doable.
Steem is nice because there is a business enterprise associated with it. If that enterprise wants to increase revenue, it needs to see a higher Steem price. Few projects have this business motivation associated with it from a dedicated corporation. It's a nice driver for innovation and @ned seems to be a smart guy by essentially borrowing the BANCOR innovation of smart tokens and throwing it into Steem. This is a solid strategy to borrow innovation.
I agree and appreciate @ned 's strategy here. If SMTs prove to be the success I think they will, $100 STEEM seems more than easy. We need that demand to start picking up in a big way for the SMTs and for those ICOs to prefer to use the STEEM token.
Let's hope whales do dump some Steem to segragate some of these very large Steem holdings. This will be better in the long run.
I agree completely. I'd much prefer the currency to have a wider distribution. Makes it more valuable.
Don't want to mess up your post but moment like this call for celebration
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well its mean the steem price up down only in whales hands they control the steem price and also they are pumpin it but if this is true then the price of steem not stable here sure they sell it here and the price dump again i m confuse a bit on it @crypto-investor
What I was saying is that even whales sellling can't stop the mega-capital from wall street from propping up the price into 2018 for Steem. Whales can dump, hedge funds will be buying.
Hi @crypto-investor, I've been watching your videos on YouTube and love your content, what's your opinion on Stellar ? It took the number 8 position on coinmarketcap breifly yesterday and has had some solid growth, currently sitting at $0.53. keep making great content!
I like Stellar because they have done massive coin give aways. Almost everyone has some Stellar these days in crypto because it was given to them. This is a good foundation for a currency, to have a wide distribution.
Can't thank you enough for what you do Tom. I was wondering if you had any plans of potentially releasing your top 5-10 plays for 2018 ? You rarely disappoint, and are clearly the sharpest guy I see who gives his honest truth on the crypto space. Would love to see a write up on something along those lines for new investors or people with some bitcoin to fire on some alts. God Bless
If some dumps are on the way it might be good news though ,hope it helps in the rise of Steem in the long run .For now it is indeed a great news Steem is going kaboom !
@crypto-investor,
unless you absolutely had to, I do not see any reason for selling Steem at $6.
Oh shame, I just followed your blog, today morning I already sold 1/2 of my STEEM stock :/ Anyway I will do my best before SMT hits!
Great article and you answered almost all ??? marks that I had!
Cheers~
Yeah, I sold 1/2 my STEEM too when I posted that. I posted that for transparency reasons, but I had like 80% of my holdings in Steem. I was not diversified like I should have been because I knew Steem was going up. I'll take temporary risks like this, but then I wanted to diversify some in case a bad event happens.
Never feel bad about selling at a profit. There are always other cryptos out there about to skyrocket a few hundred percent.
@crypto-investor,
Never feel bad about selling at a profit.
Yeah that's true! But when we sell at $5 and it reach to $6.5, actually I feel damn :D Anyway I am maintaining diversified crypto portfolio!
Cheers~