Yes, I think that we will not only reach the previous highs but we will surpass them.
I feel that any cryptocurrency token needs a real world use case if it is to succeed in future. This means that the people investing in it are doing so for more than just speculative profit. Steem blockchain defines the very meaning of real world use by bringing platforms like musing,io and steemit.com to our fingertips.
Getting paid for content creation is not ground breaking but what is ground breaking is the fact that the Steem ecosystem is incentivized in manner that a user has a stake in the system (Vested SP). Therefore most of the users are financially invested in the platform. This increases user retention and loyalty to the Steem blockchain, since users are invested to see the platform succeed.
Here are the reasons why I think that the Steem prices will rise again:
1. HF20 is geared towards making dapps the kings on the Steem blockchain. It will effectively make sure that you can make Steem accounts on the dapp itself. Dapps will become free from having to go to steemit.com to register your account.
2. Platforms like musing.io will grow, gathering and collecting the SP for their needs and this will create a shortage of Steem in the market and thus raise the Steem prices.
3. SMT's will soon follow in January and will allow dapps to issue their own tokens based on the native token Steem. To issue tokens they will need to collect more Steem to back their tokens and thus create further shortage of Steem tokens in the market. This in turn will further raise the price of Steem.
- Looking at the roadmap and what lies ahead, I see great upside potential. It seems as though not much progress is being made, but scratch beneath the surface and you can see that the project is garnering serious momentum and positioning itself strategically.
- From HF20 we got easier account creation. Even EOS today has account creation issues. We've made progress on that end.
- Steem has a very strong community and network effects. The value that we the users bring to a blockchain platform may not be reflected immediately in the price of the token but once the economics play out value will be evident.
- We are yet to have a strong demand for an attention token based on Steem that enables serious marketers to bid for users attention (think SMTs). That is changing as more dApps are created. These dApps will eventually add promotional features that require a token for them to work, and then things will really flow. It's still early days but things are moving fast.
Yes it most definitely will. I am very confident we will see double figures in the not too distant future.
The entire crypto market is currently down and has been for some time. If Bitcoin is down the entire market is down and hopefully one day Steem will be big and strong enough to not to have to worry about the other coins and what they are doing.
A lot has happened recently and it is all good news for Steem. The Steemit platform experienced a Hard Fork recently and what was important about this is that it was geared for creating accounts quicker and on boarding the new masses that will surely arrive soon.
SMT's are being launched in March next year and this is important for the growth and price of Steem. Each Dapp that launches will have tokens and each token will hold value against Steem. This in a round about way with new users will tie up Steem in Steem Power and make it less readily available. This will create a shortage and will help push the price up at the same time.
When Bitcoin rises with the new investment money that was announced last week by Investment companies this will all add to the new craze in crypto currencies again. New money investing in the crypto world is always good and will see prices start to rocket.
I am very confident that we will see Steem in double figures within the next 6 months and who knows it could be more. Steem is so undervalued right now the best we can all do is to power up our accounts and wait for what surely is interesting times ahead.
Image source steemkr.com