Good day Steemian welcome to today's Steem price update for 10/2/2019 I have been posting the Steem price update since almost the very beginning of Steemit.com many have came here to discuss the daily Steem prices and changes for just over 2 years now.

I also want to mention just incase your thinking something doesn't seem normal from the other regular Price update posts that the daily Steem price posts do slightly change from time to time.

But regardless of changes we will carry on as usual and by this I mean knowing the price of Steem as its important for your daily plan or strategy and honestly even if you are not planing to do anything with your Steem I still recommend checking out these updates and keeping an eye on the price, so without further ado lets take a look at today's Daily Steem Price Change for 10/2/2019

Should you be trading with Steem today..

It seems that when it comes to the Steem INC and it's power down's Ned said there will be a cap on how far they power down, while this is a big relief for many Steemians it's a huge disappointment for those who wanted to buy-in on the really cheap, but that is not to say you might not still get a chance for the Steem price to lower as basically the powerdown's continue. As for Bitcoin's the previous downfall's show Steem being barely affected but now that seems to have caught-up leading to this now lower Steem value, the January high of $0.43 remains the best value for 2019. We also had our first February Bitcoin downwave on the 6th but on the 8th that downwave got destroyed as Bitcoin went from $3352 to $3663 at ⏰16.55. If you remember the first downwave this month took Bitcoins from $3433 down to $3355 well we have gone way past that $3433 mark. Bitcoins were hanging around $3415 since the 1st of February and so that upwave smashed past the trapped mark. Yesterday there was alot of hope for Steem to reach $0.30 and surprisingly we didn't hit $0.30 but there was at one point where it did seem like it might just make it. But Steem started by falling to $0.28 at ⏰00.55, about five minutes later we were back at $0.29 and this is what continued on for most of yesterday but landing on $0.29. But what about today did we hit that $0.30 mark yet? Nope.. Steem barely even moved we continued from $0.29 but by ⏰01.25 we started to see $0.28 creeping in and this was especially noticed at ⏰07.40 till ⏰10.30 but as from there alot more bouncing between $0.28 and $0.29 went on, but again there's still a good chance we might see $0.30. Remember you can still take the risk on waiting for the possibility that one of Steemit INC's powerdowns will lower the price enough to buy cheaper, but be weary of this as there is no longer the need to panic as Steemit INC will be capping their powerdowns as now we know how Steemit-INC are handling this move. This whole thing was important because that account held around 44 million Steem. If nothing much happens in 2019 then I hope those who are in the game will take the opportunity to keep collecting Steem especially if the Steemit account continues to power down a little further. Steem at these low prices and with the Steem power-downs it places us on a survival mode era basically Bitcoin dropped drastically forcing Steem's value to tank causing Steem-INC staff reductions, a possible threat to the website and the Steemit's account security. The conclusion is to cut down the costs of nodes. Hivemind is now live the "steemd" instance size's went from 488GB RAM to now shockingly 61GB RAM! Focus is on a multi index RocksDB adapter which is a new technology in development to allow the Steem blockchain nodes to store almost all of it's necessary data to a disk in a modern database instead of RAM, this move will make nodes cheaper. Ned also said that the cost reduction progress will still remain above the creation of SMT's which I feel is the right move. Also nodes continue to run well on hivemind and which it was only made possible thanks to AppBase. So yesterday things looked promising for SBD's at ⏰01.15 we could see them at $0.91 but they started to fall with some bumps till ⏰05.15 which of course took us down to $0.89! again, but since it was early there was still some hope of a recovery and we did have one which took Steem back to $0.91 well briefly because then yup it was back to $0.89. Today there was a few movements with SBD's even if it looks like nothing happened, like by ⏰01.15 SBD's were back on the $0.90 mark which lasted till ⏰07.45 and fell to $0.88. There was 2 recoveries which took SBD's to $0.93 the first bump being at ⏰11.05 and the 2nd at ⏰20.20. Between those times SBD's mostly stayed around the $0.90 mark which is not a bad day for SBD's.

Always do your own due diligence the above is only a opinion.

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Source: picgifs.com

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