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RE: Crypto, Stocks, and Alcohol - Drink #6
If Bitcoin goes down to 4200$ what is going to be the price of Steem? Should be around 0.60$??? That is just insane...why was Steem in mid 2017 with over 1.20$ with 250K Users and now we have over 1000K User and the price is half...this market really makes no sense.
Crypto market does not make sense. Look at all the insane prices for other projects that does not even exist.
Yes that is what I'm saying ether way Steem for example has the most transactions and is actually have been used for the purpose it was created for. Why is the valuation still so low compared to the non existing projects?
Probably because when people are making decision on buying crypto asset, they choose dream coin (we call them shitcoin) that promises a lambo. Those projects exist only on paper, but authors are selling promises. When they see a project like Steemit that is based on STEEM, they do not like it and do not buy it. STEEM is probably overpriced but not as much as other crypto assets.
According to latest STEEM stats, only 18.2% are traded on exchanges.
This asset is not promising to its users a lambo till the end of the year and that's why nobody is running after it. So, the price sits where it is or goes down because of BTC.