Looking at the condition of Steem today, what do you think?
The condition of steem today is not really encouraging though due to the drastic fall of steem price which occurred from last year ending to this present moment. This is generally what is happening in the crypto space due to the effect of Bitcoin because most of these cryptos including steem all depends on the rise and fall of Bitcoin.
How long the time taken by Steem to recover the market?
I am very sure and certain that steem will surely recover if Bitcoin rises and becomes stable. I can see the little rise and stability of Bitcoin starting from the past 2 days which is making the value of steem to be between $0.25-0.28. I believe more great things will happen this year and we should always remember that anything can happen in the world of cryptocurrency since we can never predict very accurately about it's state. There may be a great boom or drastic rise this year due to some companies like Bakkt and fidelity adopting BTC for their transaction processes.
Thanks for reading and I hope this helps.
Well, I guess with digital of everything, the recovery has two sides. If it's fast and steep it would fall really fast. At the moment I am looking at a moment, I can see a slow and steady incline which is a good sign for a steady growth in price for Steem and other cryptos. At the moment bitcoin just tried to breach above the 4000 mark and haven't been able to yet.
When the bitcoin goes up above the 4000 price, the next price target to look at is around 4800 - 4900. Steem would probably be around 60 to 70 cents on a rough estimate at that time and it may come within a month or two. But then, at that point Bitcoin would have to go beyond 4900 or else there is a risk of price unbuckling and you could see another drop which would drag Steem back to the current price. If it goes up too steep in price and suddenly bitcoin jumps up to 10000 in a month or two, you need to prepare yourself mentally to be able to sell some to lock off some profits no matter if it's Steem or any other cryptos and leave some in if u are scared that it may go up higher and you may have missed the ride.
Goood luck in your crypto adventures. It's fun and strange at the same time. I think 2019 is a good year for cryptos and I can see a slow and steady ride up instead of fast roller coaster ride up. Keep and accumulate your steem. Before the steam comes.
It can take as long as it wish. For someone who hasn't invested much of his money on the platform I am not perturbed really. I was on twitter for 8years and I did not earn a penny but u have earned over $200 in fiat and investment from basically socialising.
I'm not worried about the price. I am thinking more in terms of influence. Trying to create a niche for myself before we go mainstream, if we go mainstream.
My two cents is, if you've not invested money on this platform you should not be thinking about price but maximising your earning capacity. It doesn't matter if steem is 2cents or a dollar, the important thing is how much steem are you earning.
It's human psychology that when something goes down, they wonder if it will ever go up and vice versa.
Last year, we saw near $10k increase in BTC value in just time span of 20 days (even less than that I don't remember).
So you could even say 20 days for Steem to recover.
@Ijoel, Yes, we have to agree with that in aspect of price, Steem is in downfall but we should not forget one thing here and that is, it's not about the Technology but it's about the Domination of Bitcoin too, means we all know that on Crypto Market Bitcoin hold the dominance and Altcoins will follow it's trend until the Domination decreases. But in my opinion, if i have to talk more in Technological aspect then i think that Steem is becoming more Application Centric Platform and many diverisified Dapps are coming up and in my opinion it will going to add value. Stay blessed. 🙂
Situation of Steem and cryptos is not very engorging since past few weeks.
Its falling down and down and unable to find any upward trend. We have seen that at first Bitcoin has shown resistance first at 6000 to 6500 level and remain there for some time and then it drooped to 3500 to 4000 level.
Although Bitcoin is showing some resistance at 4000 level but I think it might drop further towards 3000 to 2500.
Apparently Crypto market has lost the interest of investors and therefore there prices are struggling.
But one thing is for sure that decentralized technology has lot of potential and has bright future.
So eventually the prices will go up but how much time will it take to recover can't be estimated.
It may be a good time to invest for a long term.
One should not make all the investment at once in one time instead investment should be made in steps so that if prices fall down one should have the option to buy more and make a good average.