Bitcoin vs. Steem, 2+ years
Here are some stats pulled from coinmarketcap.com and compiled in LibreOffice. If I believe in Steem, then maybe it's time to be optimistic for the future. If not, then perhaps it's time to get out while I still can. (open image in new tab to read legend)
Graph of Steem & BTC prices, trends, and averages, in relation to each other.
Left scale = STEEM per BTC; Right Scale = Satoshis per STEEM
Descriptive Statistics
One thing I notice is that the current ratio of satoshis per steem, 15,176, is well below the historical 1st quartile value of 18,227 for that statistic. It's also much closer to the historical bottom (5,909) than the top (636,090). So, typical reversion to the mean would suggest that it will be moving higher.
Another thing I notice is that the satoshis per steem metric is trending steadily towards zero, which is less optimistic... As badly as bitcoin is doing this year, Steem is doing worse. Presumably, that trend is heavily influenced by early exuberance when Steem launched, though.
Personally, where markets are concerned, I'm not a believer that you can look at a graph and predict the future, but it's still fun to try sometimes.
Many of those that I have spoken to are of the opinion that its time to buy. I did so and found myself 15% down.
I have no fairs yet , I think it can't go any lower
But what do I know?
The problem with the old "Buy when there's blood in the streets" axiom is that it only works in hindsight. In real time, you never know if it's gonna get bloodier... But yeah, in terms of BTC, it does seem like it's got to be near a bottom (fingers crossed ; -).
you are right, the future is not predictable... but we can hope for the best for us and steem :)
Nice summary of why or why not Steem might grow again according to your statistics :)! +1 upvote