I don't think it will happen this year. STEEM price could only go that if another crypto-rally took place. I don't expect that to happen very soon. Maybe next year or in 2020 when the next Bitcoin halving will take place. By 2020, the bloodbath of 2018 will be but a distant memory to the impatient crypto-speculator crowd.
But I don't mind at all. I don't live on cryptocurrencies so I don't care about the relatively low prices. I'm happy to earn STEEM without loads of competition clamoring for the same coins. I wouldn't crap my pants even if the price of Bitcoin went down to $4,000 or the price of STEEM dropped to the vicinity of 40-50 cents. I'd just keep hodling and stacking them up. Steem is a powerful concept and it only takes some time for the general public to wrap their minds around it.
I think that there is. I am not a chartist or have good technical analysis skills but from my experience in the crpyto markets things seem to be cyclical. What goes around comes around. The prices of almost all of the cryptos are very low from their ATHs for some good months and that's a good buying signal in my opinion. It is also that for years in Deecember prices have spiked and prices and I think that lots of people that are interested in crypto and waited on the side will jump and buy in this period. Thus when there is demand prices will only go up. I also think that if this thing will trigger a bull run we will see Steem at more than $10. How long will it be able to hold that price range I don't know but $3-5 it's easily reachable. When I joined Steemit Steem was selling at around $5 and SBD at $7 and it was a few weeks after the ATHs. It's just a matter of time until the prices will start climbing again and I think it won't be long.
These were my thoughts. Hope you found them useful and wish you a great day!
I am not a technical analyst or an Investment adviser however, i believe that the price of Steem would shoot up to $3 as i guess that is the fair market price which a token like Steem should command in the market. It is not a speculation but addition of steem to Netcoins, release of SMT, development of innovative dApps such as Musing would definately help in prices moving up soon. However, a lot depends on the price movements of Bitcoin against which Steem prices are mapped.
As I explained in the following post:
There is a time that is likely to increase STEEM prices by hundreds of percent in a short time.
This time is: "between the end of 2018 and the first quarter of 2019"
At that time, all buying and selling activities will be very crowded, and even I am sure trading volumes in almost all other currency markets and investments will become crowded.
SMT Will Boost STEEM
For STEEM - at that time there will be an official SMT release, so if this is indeed successful and stable, various independent economies will emerge above the STEEM network.
This means that there will be more possibilities for institutional investors, companies, organizations and industries outside STEEM to start entering the network.
An example is Steemhunt, who already has an idea of HUNT tokens that stand on SMT. If dApps and SMT succeed, and create a new economy, then this will indirectly add to the total market capitalization that STEEM has. This will also directly become the most positive sentiment for rising prices of STEEM.
Then, external factors are:
At the beginning of the year, after January especially, people will flock to invest, and rearrange the proportion of their portfolio diversification. At that time, STEEM had a trigger namely the release of SMT. So, I'm sure STEEM's market capitalization will immediately skyrocket in the first quarter of 2019.
There is always that possibility, especially if History repeats itself!
The highest price reached by Steem was $8.57 on Jan 03, 2018 and for SBD $22.34 on May 17, 2017 according to CoinMarketCap.com which is like only 2 months away.
It is also worth to note that SMT's which was hyped for more than a year now is set to be released next year. If all goes well, we might see an increase in the price of Steem/SBD early next year because of it.
And since everyone is attracted to coin momentum (like how btc gained so much attention last year for going above $15000+), with SMT's on the way it is not impossible that we might get $3-$5 in the near future due to the publicity and attention it might bring for Steem.