Why the market volume and value of Steem continue to decrease?
Hello to all friends, it's from early July I'm keep constantly observed the steem value and its market volume. Steem has grown enormously after it was entered in bittrex.com, he had a higher market also of eth and various currencies. But after two days he had lost a lot and then retrieve it when it entered in the market of poloniex.com.
Now again it losing much and the big trade platforms are over. I invested some of my savings in steem, convinced that the project and its fast expansion did rise steeply the value, but it does not seem so, because despite this, he loses market volume and value of coin constantly from several days.
In the end all this is normal, because if there is no demand in the markets for steem its value decreases, is the simple law of demand and supply. I'm not a super expert in economics, but I have studied the financial markets and the crypto currencies undergo their own laws.
Example:
Why the BTC grows? Simple, its use is every day more extensive, we can do almost everything with the BTC, you can buy all kinds of objects, do the shopping in some countries, in Malta's universities can pay the inscription with btc, and more and more. There is a real practical use of its value for that every day more people need to buy BTC and will be increasing.
What you can do with Steem?
Essentially nothing, you can only sell it for BTC. But why should people buy Steem? Indeed they do not have any reason to buy it, because now it does not have any use. The same applies for Steem Dollar.
As I wrote above I also invested in steem but now I realize that I did not use the brain but I followed the sensations. Very wrong for an investor to make investments that are not calculated well. I hope to be wrong, but in the current situation, market laws are against.
What will happen?
In addition to investors this will hit a lot whales, because their massive gains if the value continues to decline, will come to worth nothing. If Steemit does not do something to remedy this also his project will begin to collapse, because if the income worth anything, no one will waste more time in post in Steemit and its users give up all.
This post is not a criticism but an analysis of the currency market situation, and an incitement to Steemit to do something, otherwise will not fly, because I believe in the project!
Thanks for your attention.
#steem #steemit #money #steem-help #steemitlive #crypto-news #news #investment #whales
I posted about this a few times but people won't open their eyes to reality. They are swimming in a dream and can't think objectively. The same happened in every bubble market all over history and the same will happen over and over again. Smart people are selling STEEM because STEEM has no use apart from powering up and to be sold for bitcoin to be then sold for USD.
Incentives to keep STEEM are non-existent, some people are putting everything into STEEM POWER to fight inflation, but as inflation grows the value of STEEM goes down. The final value of STEEM will be next to 0 in the future.
100% agree, we speak the same language.
well done mate! well we have only to see what happens next
That's the cryptocurrency point of view which is nature of it kind. But Steemit also look as social media platform with has such great potential.
At least after spend few days on Steemit, this has sharpen my though and wider my perspective.
And I think you spam too much post indeed, not to offense tho. And this still have some value worth for upvote.
It is true that as a social platform is fantastic ... I prefer very Steemit in to Facebook, but it life is tied to the Steem, and if something does not change soon, its value drops to 0.
You make some good points, I only wish they were written in better english.
You're right, I apologize because is from a long time that I don't write in English, I'm a bit rusty with grammar.
great perspective, i also shifted half of my protfolio to steem and steem dollars hoping the the coins will give us more excitements in the future
Eh. There is much more in value than economic utility alone.
Explain it to me?
Thanks for your upvote @blueorgy .
Maybe this will give someone the wonderful idea to make a Bitcoin powered Reddit :D
This is something I've never understood either. I found Steem a few months ago and thought, wow what a fantastic idea. After reading about it and trying it I still love it but I don't see how the value of Steem will be worth anything. Anyone can just go on the site and start interacting without needing to buy anything. So I don't understand why anyone would want to buy Steem. Then the price of Steem shot up and I thought, "Maybe I've missed something?" But I still don't get why Steem would go up in value.
Bad news!
dubloon135
Enjoyable post I was about to start a similair discussion. It surprises me people don't do their due dilligence on the coins they invest in. How can you invest in something if you don't know it's Trustworthiness. I found this amazing platform: https://www.coincheckup.com. Complete Coin analysis about the team, product, communication transparency, advisors and investment statistics.
Many thanks, I hope it is useful, so that someone can solve this future problem.