Hey guys. As I said numerous time, I'm extremely bullish on STEEM. Being active means you see (and kinda feel) development whenever it occurs, and a lot of it has happened the past year. Yet, we are at a turning point.
BTC passed 6K and Steem set another milestone, getting under 30 cent and under 5000 satoshi. Is the trust in the platform broken? Are people scared about a vertical dump?
I suggest to read @aggroed post about steem status. The past 2 months had the least net powered down amount and with MIRA we are evolving towards scalability and sustainability over time. Steem is here to stay.
In the photo I put the Depth Chart from Binance, as of May, 9th. Buy pressure is enormous.
I love to talk about numbers:
- A buy of 3 BTC drives the price up to 6000 satoshi
- A sell of 14 BTC+ is needed to drop the price to 4000 satoshi
Maybe the lack of information about the advantages (which are multiples) of holding SP is keeping investors back.
There is hope though. I received the Torch, a project from @geekgirl. I thank again @soyrosa, which is the one who got the Torch before me. I plan to pass it tomorrow, am contacting the new hodler for a day to inform him about the project. It's one of the most important steem I met, he did (and does) a lot for the platform! That's a little spoiler?
You'll find tomorrow who will be the new TorchMan
I'll use @andrarchy tags in the post as mentioned.
May the Torch brings STEEM back to his heights.
Yes - I loved Aggroed's post as well, breathing some light into the darkness ;-) I'm bullish too or I wouldn't spend so much time here :')
Good luck passing the Torch tomorrow!