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The price of Steem has gone down for a couple of weeks now although today we saw a 24 hour high of about $1.85 on Poloniex. What a nice sight. There has been a lot of talk lately about the decline in price and so i wanted to talk about the things that can make the price of Steem go up.

Time

There's the old saying time will tell. Everything's going right with the Steemit network. There have been several hardforks to tweak the system for the better. Curation, blogging, upvotes, everything is going as planned and working as smooth as @smooth himself :) Trading has been going on as well on several exchanges now with over 6 exchanges and 13 markets. Everything is going on as planned and only time will tell what the price will be.

More people investing in Steem and Steem power.

Steem power as we all know keeps the network stable. Day by day people realize the importance of Steem and especially Steem power and invest in it. People earn more Steem power for sharing quality content on Steemit. With all these investments means more stability in the price of Steemit, more trust, further investments, a rise, more trust, more investments, stability and so on. You see how new investments can really help the Steem network. What this does is, it creates a new floor for the price of Steem. A floor is the lowest price it falls to when there's a decline. It's hard to go below that price as there's a strong buy support. New investments will raise the floor up which will be a massive positive. And a positive being our worse case scenario is the best worse case scenario we can wish for.

Trading

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Pumps, dumps, floors, all time highs, shorts, longs and so on. If you're a trader, you know what I'm talking about. A pump means the price of Steem going up. A dump means the price of Steem declining, but remember our floor, if it's at a high level with a lot of buy support. If our floor is not so low and very stable, then people will wish for the slightest of decline to buy more Steem and trade it when it goes up. So a pump wouldn't be as bad. It would actually be a bungee that can break the all time price high with the next rise. Traders will squeeze in everything thing even if it mean a 2 cents fluctuation throughout the day. More trading means, new money pushed in and out by traders especially when they're locked in at a price inconvenient for them to sell at a profit. New investments in Steem and Steem power will increase our floor and traders will ride along with the fluctuations. Trading is an essential part of an ecosystem and can essentially push the price up.

Speculation

This I'm not too much of a fan off although it can significantly push the price up in a very unhealthy way. Crypto fanatics have learned to research on their own instead of falling for false news. Nonetheless it can significantly push the price up in a very unhealthy way. I added this to the list just to add an advice to research first and not fall for false rumors and news. We have a great network in Steemit where hard forks for example, are announced with details by verified users driving a healthy discussion on Steemit, so we don't have to worry about speculating too much. So watch out for FUD(Fear, uncertainty and doubt) and let's grow the Steem ecosystem in a healthy way.

News of upgrades, updates etc

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Now we're back on the positives. Exciting news about updates or verified news and it's prospects will certainly drive the price up. New features, improved algorithms, etc that will improve the network will create excitement, positivity and more confidence. Upgrades means progress and progress will certainly look good in the eyes of outsiders driving them in and cureent members driving more confidence and further investment. I get very excited about the problems they fix with every hardfork, it creates more confidence than ever before, so certainly, news, upgrades, more positive features will contribute greatly in bringing the price up.

Adoption

New users, new users, new users. New users will mean everything to the price of Steem. Steem is around $1.55 currently. I saw it at 45 cents a while back. Others saw it at 25 cents, even lower. Bitcoin started from nothing too. Others got in on Bitcoin when it was a few dollars, some even at cents. Now Bitcoin is currently worth about $574. Really? People would want to get in on Steem just because of getting in on it early. Above all, it's the social networking platform, Steemit, that's important. It's fun and revolutionary and can't see a single reason why anyone wouldn't/shouldn't want to join. Steemit has seen incredible numbers in terms of new user signups and this i believe will grow exponentially. The more people joining Steemit, the more investments, the more stability, the more increase in price.

Steemit/Steem is still very young. Steemit is in beta and growing strong day by day. New users are joining at an exponential rate. Price has jumped from about 25 cents last i saw it to $1.55 currently, with the all time high about $5. All this within a short period of time. it will be interesting to see what the price of Steemit will be years from now. Most importantly, it'll be interesting to see how the Steem network will evolve and grow for the better.

Thanks for reading everyone and Happy Steeming!