Cryptocurencies are generally volatile. This makes their prices to be quite unpredictable and erratic. Steem, being a cryotocurrency, is not an exception in this regard. Therefore, the price of Steem ( at any given point in time) cannot be accurately predicted. At best, we can only get intelligent guesses or, if you like, speculations.
Therefore, the prediction that Steem will hit $5 by June 2019 is merely speculative. While Steem may actually hit $5 or more, it can also dip further to 10 cents or less. Nobody really knows.
However, considering the excellent Dapps that are frequently springing up on the Steem blockchain and the plan to launch Smart Media Tokens (SMT) in the first quarter of 2019, we have reasons to believe that the value of Steem is more likely to increase than for it to fall.
Yet, we cannot say exactly what will happen to the price of Steem at any given time. So, for me, I'll advise that you take the prediction of Steem hitting $5 by June 2019 the same way you take soccer predictions. Ultimately, the pendulum may swing either way.
Most likely the people who made that prediction take into consideration the release of SMT (Smart Media Tokens) by early quarter of next year.
For over a year now, SMT has been hyped by the Steem community. Many claims that it will for sure increase the price of Steem since developers, apps or projects that will be under this model will have to hold a significant amount of Steem Power to have enough resources and operate smoothly. Kinda like how an account like @blocktrades who is dealing with a lot of transactions daily need to have at least 500k SP to do all those transactions.
The more developers/apps/projects that use SMT, the more the demand for Steem increases and by extension it's value in the market. So yeah! It is not at all impossible. provided there is enough projects that will try out SMT.
If there are only a few, then Steem would probably stay under this market price. Many people are hopeful though including me. XD
That's totally impossible to say. It may be that the whole crypto space will remain in a slump until the halving of the mining rewards of Bitcoin in 2020. There is a good chance that institutional grade custody services and other infrastructure necessary for institutional investors to enter the space will be in place by then. At that time, the halving of BTC mining rewards could be the catalyst that will send cryptos on a bull run again.
There is a high possibility for something like that to happen. Last year we saw a drastic increase in cryptocurrency prices. The reason being many countries including India had many new takers. Bitcoin fever hit so many people and there were lots of investors. Some of the cryptocurrencies came to top people started exploring a lot about cryptocurrencies and the Blockchain technology behind it.
Today we have lots of Blockchain developers all over the world. Some of the great minds are already working on many Blockchain projects having associations with some big companies. It is going to be interesting to see how the growth will be in few years. Considering all these things happening, I have a gut feeling that the crypto market will again start it's bull run soon.
Though there is a regulation in some of the countries that have top traders, there are still so many places where cryptocurrency transactions are still happening. I hope the government of some countries will soon open the gate and the price will again start increasing. I know one thing for the fact that cryptocurrencies cannot be completely eradicated from this world. If not today in the near future Blockchain is going to rule the technology sector.
For the past few days some heavy buying is happening in some of the whale accounts. People have now started to invest a lot on Steem and accumulate Steem. Having all the above things in mind, we can soon expect a great increase in the price as soon as the market starts it's bull run again. Let's just wait and watch.
When I joined a term it value was 8$ and currently it's values is 0.45$. This reveals the decentalized system is very volatile. The recent blood bath in crypto market wants our patience. Patience is vurture. The currency which will sustain in the current scenario will definitely rise. I believe it has a potential to cross 5 $ in June 2019. All we need to do is show patience, and HODL whatever we have and tried to buy or collect more a term power. It will definitely source of inspiration for other people.
No one knows what the price of Steem is going to be in June next year. In February this year it was over $8 so that is possible too.
I am hoping with all the new investment coming in the new year then we should see a massive price rise on the Crypto market but only on coins that have an every day use. The speculative coins will be left behind as they are too much of a gamble and have been hyped up way too much.
I only suggest you grow your Steemit account and wait and see.