STEEM - Sitting on 0.34$ - the high of the range
Hello all,
Here is the chart of yesterday :
Here is the current chart :
We are currently exactly on the 0.34$ line which is the higher line of the trading range where we are stucked since days now. This line looks really hard to break and the current correction on the BTC won't help us for sure to break that line. So let's see what will happen in the coming hours. If the BTC continues to drop, we could go test quiclkly the 0.31$ support line on the STEEM.
I wish you massive profits,
Cryptopassion.io
Legal Disclaimer : Never invest more than what you can afford to lose. I am not a financial advisor and the content in this article is not a financial advice. This post is for informational purposes only and provides only my personal opinion. It is important that you do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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Steem should be 50 cents soon
it would be more or less in line with other alt comparing to the low that we had... even lot of other altcoins have more that doubled that low
Btc dominance drop is important for us. Look at dominance. it's dropped just 1% and steem is now on 0.37$
yeah we are starting to have a little transfer of money from BTC to alts
Bitcoin has dropped a little this afternoon.
Posted using Partiko Android
It was expected and healthy. We need this kind of correction to be able to continue to make new UP
This is currently the best article on Steemit about the investment prospects of Steem:
https://steemit.com/exyle/@exyle/steem-price-thoughts
mmmm yes nice artcile but explaining that the worst scenario could be a steem at almost zero is not taking a big risk hehe
The worst case scenerio for any investment (including holding cash) is that your investment will go to $0.
The point is that Steem can go to almost $0 without the Steem blockchain failing and that will build A LOT of confidence in the blockchain over time.
You know it is the case for many blockchain because even if the blockchain goes to 0, there will be always miners who will try to continue to mine with the hope it will increase a lot after.
I don't believe in that one bit @cryptopassion.
If Bitcoin decreased to $0.01 per Bitcoin miners would stop mining and the Bitcoin blockchain would cease to function.
mmmm so I will be there to mine in that case haha. The difficulty will drop a lot because no more miners and it will be possible to mine BTC with a simple CPU like it was at the start of the BTC ;-)
I'm 100% sure that the mining will never stop, even at 0.01$. Now for sure exotic altcoins could stop but not the main ones.
Ahh okay @cryptopassion I stand corrected then.. I didn't pay attention to the fact that the difficulty would decrease that significantly @cryptopassion.
Thank you for correcting me. So Bitcoin is pretty much unkillable unless someone kills the Internet in which case the death of Bitcoin would probably be the least of mankind's problems.
News from Steemit Inc 😊
https://steemit.com/steemit/@steemitblog/steemit-update-leaving-survive-mode-and-beta
I just read it.
What do you think about that beta remove? Communication goal or you see really a big improvement to justify that?
It's not just an improvement in communication @cryptopassion.
If you understand:
AND the fact that communication has increased throughout all of it.. you will realize that @elipowell already turned the Steemit Inc. ship around. Paying attention to the price fluctuations alone will only result in short sighted guesses.
I am not sure if they already took Steemit out of BETA or if they will soon but either way, it looks like the time is about right. If you read some of the news updates by @pennsif you will discover that Steemit Inc. is planning to make major upgrades to the condensor now that the wallet is separated from Steemit.com (for security reasons).
Their strategy before @elipowell was to use Steemit as a sample site and let the community take the lead and make better versions of Steemit that would reach mass scale, but under @elipowell's guidance, they are turning Steemit.com into a profitable business in and of themselves while offering API's to the masses so that anyone can create a competing DAPP for a super low cost.
Most of Steemit Inc.'s costs involve paying for the API's that are offered to the many DAPPs out there. Having said that.. they have reduced the costs of maintaining the API's significantly with MIRA and various other things.
Fundamentals + Technical Analysis of Steemit Inc., Bitcoin AND Steem can provide a clear view of the investment prospects of Steem, but missing out on any of them and only focusing on one (i.e. Only focuing on Technical Analysis) can practically make a person "blind" IMO.
P.S. You are still free to join us at:
Hehe thank you very much for this big analysis. I will join your you on facebook today. I will write you a PM there. Take care
Thank you too and you're welcome @cryptopassion.
Here are some of the major accomplishments that were completed after @elipowell replaced @ned (or around that time) :
https://steemit.com/exyle/@exyle/steemit-com-is-officially-out-of-beta-steemit-inc-is-healthy-again
I post screenshots of important articles like this in our FB group chat for the convenience of our members.