The price of steem is a dropping, I started at almost 6 dollars, now I'm down to almost 4. What is going on? Is this the end of steem?
The price of steem is a dropping, I started at almost 6 dollars, now I'm down to almost 4. What is going on? Is this the end of steem?
It's not the end of Steem. It's the beginning of Steem depression.
I only kid.
I think what we're experiencing is the consequence of a market bubble that has recently burst and it may take some time before we settle on a new trend towards price discovery.
If you'll refer to the above image, it appears that we are well into the blow off phase of the bubble. You'll no doubt find many parallels between it and the below image of Steem's price history (posted from Bittrex:
It looks like we might be in the despair mode of the bubble cycle. Return to the mean comes next
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Based on what i have read the value will fluctuate, like with any currency, the only difference is if you have $1 it will always be $1 but the amount of goods it will puchase will change, but steem is not physical currency, so the value itself changes. I amby no means an expert, but thats the jist of what i have found.
Check out my blog. My last 2 posts in the last 2 days explain fully what's happening..