When will steem price stop going down?
That is a million dollar question, because no one can say with guarantee when price will stop going down. If anyone who knows the exact answer would be a billionaire.
Exact answer to the question cannot be given however, in my personal opinion, the price is almost at the bottom and why I say so because in past few weeks we have seen number of time steem hit 1.20 to 1.30 rage and bounced back as little bit.
Another factor is that price of ALT coins generally follows the price of BTC and in past few weeks BTC is managing to hold in the 5800 to 6800 range. So if BTC stabilize its price in this range it will likely to reverse its trend.
Another factor is that when some positive new about Bitcoin or Steem is announces the trend will be revered. Till that time we have to wait and watch.
Steem price is linked with the rest of the crypto market. currently there is a bearish trend that is hovering over all crypto currencies the trend can reverse based on many factors. here are a few i can think of
1) When we see a reversal in bitcoin and crypto market. A strong rally upwards will trigger an altcoin rally including steem.
2) When there is a very good news that brings new investment into steem platform, if the investment is sizeable the downtrend will reverse, we have seen this happen with other coins also it can happen here too. Smart Media Tokens by Steem have been announced to be released sometime in 2018 that could trigger a rally of its own.
3) Pump n Dump. We have seen in the past that when bitcoin price was relatively stable steem went from 1.3 to $4.2 we can see something similar at any given time.
4) When the price is too low and attract the sharks - When the price broke below $1.30 i emptied my pockets but looks like the sharks are waiting for a bigger bite. i think when the price goes below $1, it will invite alot of sharks.
there could be other reasons too these are just my thoughts.
Steem price have been going down for more than several weeks and i was expecting it to bounce back up so that i can make profits on my investments,but i am not the one controlling the steem markets so there are limits to what i can do
But i do not know the exact day or a week that the steem price will stop going but one thing i notice about the steem market is that when the price wants to rise it rises slowly but when it falls it falls quickly..lol but i am optimistic that the steem price will still go back up and at the end of the day investors will smile to the bank
Steem price is now at the bottom level and this support is already break and this is the last price of steem you will never get steem coin at this price you can bet with me buy as much as you can and this is the future of cryptocurrency and steem platform is very well team so allow the coin to be stable and you may see the profit you never expected from steem.