I guess when STEEM hits a low of 37¢, it can look bleak for the future of STEEM and thus the blockchain as a whole, especially if one came in when it was sitting at $6, regardless of how brief that was.
However, there are at least a few positive things we should all be considering regarding what's going on now, and what could be happening in the future.
LOW PRICES MEANS BUYING OPPORTUNITIES
Even at 44¢, many people here can invest in STEEM. It might go down more, making it possible for even more people. I just bought at around 48¢. If it drops below 25¢, I will buy more, and stop kicking myself for not getting in earlier.
CRYPTO PRICES ARE PRETTY CYCLICAL
This might pertain to other traditional investments, too, but for cryptocurrency, the up and down nature of it from year to year, while unpredictable to a degree, has yet to just flatline. Not for the majority of coins, anyway. The only reason $4,600 USD Bitcoin is considered a bloodbath is because it hit around $20,000 earlier in the year. Yes, last year at this time Bitcoin was sitting at $8,000 USD, but it climbed there from $4,000 in late August from the $1,000 mark in March.
In other words, the entire market has probably been overvalued, but after the fall comes the investors looking for bargains.
CRYPTOS ARE NOT YET THAT INDEPENDENT
As goes Bitcoin, so pretty much goes every other coin. It's unfortunate, but it can also be a sign of positivity even in times like these. If it's because everything else is taking a dive, then it's irrational to get down on STEEM when, quite frankly, any of the reasons we could offer for it being so low probably isn't going to be the reason.
STEEM STILL HAS PLENTY GOING FOR IT
There are still dApps coming to the blockchain. Steemit Inc. has been working to make it even easier for more dApps to get going. SMTs are in the offing which has the potential to tokenize the entire Internet. dApps like Steempress are already bringing STEEM to Wordpress, while others, like Oracle, and Original Works, are introducing tech businesses to STEEM.
Musing has the potential to revolutionize the question and answer industry now dominated by the likes of Quora, and Steemhunt is doing similar things for the review space.
JUST BECAUSE THERE'S A LOT OF INACTIVITY NOW...
...doesn't mean it's going to be like this always. Once the price of STEEM goes back up, it will attract a lot of the users who have left because of the value. It will also attract more who left for other reasons, as well as inspire the new folks. Nothing brings people to anything like the ability to earn. Expectations will then need to be tempered just as they do now.
INSTITUTIONAL MONEY IS LOOMING
Whether it happens before the end of the year (not likely), the beginning of 2019 (possible) or before the end of it (most likely), there are supposedly $20 trillion dollars out there ready to flood the crypto market once certain pieces are in place. STEEM will get its share. Some alt coins won't, and will fail, meaning there's more to go around.
For whatever reason the bear market has lingered as long as it has only means there is going to be a greater pent up desire for crypto, and STEEM will be right there, with more transactions, more users, fast speeds, scalability, and the ability to add even more utility to the blockchain than it already has.
Blockchains aren't going away, and neither is the concept of crytpocurrency. It goes way beyond wild speculation and easy ways for whales to make more money. There is more at stake, and there are more forces at work. But the market is still young, it's competing against older more traditional markets, and things just take time.
THIS IS NOT FINANCIAL ADVICE...
...but it is what I feel, and why I'm still here, trying to get as much STEEM as I can.
Steem has the same potential as it ever had, The doors to Steem itself are getting wider to attract more in. With new initiatives being developed to bring more awareness of Steem to the general populations.
Games like Steem Monsters, Taking card games to the digital arena. This alone has the potential to bring some new people to the Steem Block chain, even if they won;t be posting or making comments, The use of Steem will go up in transactions.
Chibera is another game, this is going to be a MMPORPG were members can interact with each other in a digital world, Exploring creating duelling against each other. The building or creating of everything in the physical world, will be able to be done in this virtual world. People will be able to trade the good or weapons they make in this world for Steem.
There are also shops being developed that will accept Steem as a payment System. Dstors is a market type place, Members can sell or trade their own products or possessions for Steem in this new platform coming out. Member can create their own store front and display the things I have on offer, Dstors will work on subsidising the postage costs to make this opportunity more affordable to make use of a Digital shop that relies on postage for delivery.
Other shops that will trade are also being opened and developed that will allow you to purchase goods with Steem. These items range from metals (dependant on country right now). There is also collectables and jewellery that will be sold in these shops which there is no trouble sending international. The metals may have an import tax that would need to be paid which makes it a bit more difficult to trade those internationally.
When one door closes another opens. Crypto itself they say is still young and only a small proportion of the general populations understand it. Even some of those involved for a long time, cannot predict the final outcome. These projects have had investment put into them and the investment from those area's has not been withdrawn.
The potential of Steem is still the same, Right now though more and more methods to make use of the Steem you accumulate are being developed.
At first look things look bad, But a building never looks great when the foundations are just being laid,
Steem is a blockchain with a difference,first of it's kind.A blockchain technology that other blockchain techs look up to for inspiration.My hopes and expectations for steem is very positive i foresee many companies using the smts of steem to create their tokens instead of the gas guzzling costs of transacting on ethereum.what's more we have a blockchain technology that works and is filled with brilliant developers and dedicated users so yes the future is bright for the steem blockchain.
Img source : nano.do/falsify-whale-desk
The Future Of Steem
Considering the increasing growth of Steem users, and also considering the many dApps who have a high chance to continue to exist and succeed (Steemhunt, Musing.io, Steempress, Utopian-io, and many others), I am 100% sure that the Steem network will continue to grow and develop.
Moreover, with the release of the SMT that is about to happen, this innovation will once again raise the name Steem to become one of the leading blockchain in the world.
My Hopes and Expectation For Blockchain
I hope the blockchain can be adopted more massively, and used for good purposes. In addition, with various advantages, maybe the blockchain will really change the way humans transact in the future.