I just hope this can happen though as this will be a great moment for crypto investors and other Steemians. To answer your question, I suggest we make a short review about the price of Bitcoin around the year 2016-2017 when the market was still a little bit favorable. It was estimated that Bitcoin was actually worth more than $20, 000 or within that range and this really boosted the price of steem within the range of $2-$3. What do you now think will happen if BTC should hit $100,000 before the end of this year?
It is an established fact that steem and other cryptos are highly dependent on the rate of Bitcoin. This explains why the market tends to be more favorable when there is drastic increase in the value of Bitcoin while the opposite occurs when there Bitcoin seems to fall just like we are experiencing now.
Most early birds on Steemit can testify to the fact that steem hasn't really dropped to this poor range of $0.47-$0.5 unlike the previous years (2016/2017) when the worth of steem is usually at the range of $1 - 2$ or even more than that. The main reason this happened was due to the profitable price of Bitcoin.
In conclusion, if Bitcoin can hit up to $100,000 before the end of 2019, I am quite sure steem will worth more than $2. I actually don't know if Bitcoin will hit that range this year though but since it's a world of crypto and it can't be predicted. We just have to keep hoping for the best and keep steeming to earn more steemit tokens.
Thanks for reading and I hope this helps.
These are, frankly speaking, tall dreams. Nevertheless, anything and everything remains possible in the crypto space.
If BTC goes to $100k by the end of 2019, that's roughly about 10x price movement from where we presently have it.
Well, there is no guarantee that Steam will come along because the market sentiment at the moment is bullish on Bitcoin.
But if we assume that some Bitcoin maximalists decide to pump altcoin, we should see Steem doing a 20x to an all time high of $16.
These are mere speculations and assumptions and should be treated that way.
Let's for the best ahead.
What if pigs might fly?