Can Steem get past 1 USD again - Let's hope it breaks through - New account creation rate is a problem though.
It looks like Steem may finally be getting some support this week, with the Steem price currently just below the 1 USD mark, up from just 87 cents on Monday. This is from coingecko.com just a few minutes ago.
It will be interesting to see is we can get Steem to rise above the 1 USD mark, and hold onto its position above the line. If it breaks through the 1 USD mark, and continues to rise for a bit, that 1 USD will turn from resistance to support, and we can hopefully get back on track with some positive growth.
One concerning factor regarding the platform is the 11 straight days of sub - 1000 new accounts created per day, with the last 5 days being under 200 accounts per day. It shows that interest in the platform has waned, which could still have a negative affect on the Steem price. Despite the decreased rate of account creation, Steem has still found something to drive it upwards.
Having said that, there must be something brewing to be lifting Steem, which could then be translated into some more interest, and result in more accounts being created. With increased interest, comes increased demand for Steem, which pushes prices up. Hopefully this short spike in the price will generate a little more interest, and bring in some fresh investment into the Steem platform.
Let's hope this is the start of a good run of Steem. We all could do with a boost!!
It's an interesting puzzle. I think we steemians sometimes fail to realize how cumbersome the platform is to novice users. Even though we were all novices here at one time, and we were able to learn how to navigate Steemit, I think many people would rather not put in the work.
It's a steep learning curve for sure, and can be quite daunting. A lot of people are probably put off by the very small gains at the start, and just don't bother, and end up leaving. This is along game, not a quick sprint, unless you come in fully loaded.
Agreed. Also, there is the crypto currency learning curve for those who may want to blog but know little about it.
Both very good points.
Steem showing some positive gains is nice after a month of decline. 😎
It has to break through that $1 mark... Then we may see some good gains... it's not there yet...
Ouch, that chart really puts in perspective how low the new account creation has been. Hopefully it picks up. Thanks for sharing.
Account creation hasn't been this low for quite a while. I hope it picks up soon too. Thanks for reading :)