So I started studying cryptocurrencies right before the big boom in March of this year, got lucky like the rest, and have been addicted to crypto trading since. Right now I took a hard look at Steem and there's several things I really like about the platform. The divergence of Steempower and Steemdollars is great to promote growth, the platform targets the best audience in the crypto space (like a crypto-reddit), and although the platform is new, it looks sleek and works really well.
The website traffic and overall traction is building here on Steemit. Here's the latest Alexa reading:
I highlighted where I think the traffic is going to go in the next couple of months. It's been almost a full year since the last huge bump in traffic, and it's happening again. A huge amount of investors are flooding the crypto market and looking for more information on their newly minted coins. The Bitcoin craze is back, and after the first boom we are all expecting another.
A lot of the new traffic is coming from search based inquiries too. This doesn't mean as much unless the traffic is recurring, but it does prove that more investors are finding out about this great platform.
So we know that more and more people are finding out about Steem, but that alone would not warrant a buy in my book. What really makes me like Steem is what is happening with Bitcoin.
As of today we are already seeing Bitcoin break records, reaching a all time high of $2,927 on Coinbase:
People are finding out about Bitcoin on different news sources, and we will be seeing more waves of new investors happy to put away some of their investments in higher-risk alt-coins, but right now they are riding the Bitcoin Bull. We don't know how long the boom will continue, but once we finally see some more pullback from Bitcoin you'll see more people using their Bitcoins to invest in platforms that are going to make more of an impact; Platforms like Steem.
At this juncture, I am going to move more and more money into alt-coins, because that's what the trends show is the future. As any savvy investor would say, diversify, but throwing in on Steem looks like a good buy. The overall market share according to Coinmarketcap is startling as well:
The trend shows that less of the overall market is just Bitcoin. Sure, it's the most popular and well known child of Block-chain technology, but just because you are first does not mean you are going to retain all of the market. The split is almost 50-50 Bitcoin to alt-coins, and with how quickly and how much Bitcoin has risen in value, we should soon see a shift the marketshare.
If you're looking for the best social media based platform that uses Block-chain technology, I think we've already found it here. There are other ones such as BelaCam, but I think if you make an account on both, you'll see which one is going to come out ahead... Unless Reddit presses the crypto-button.
If you're looking for other good buys, I am currently invested in Burst, Sia, Etherum, Monero, and Dash because of their great platforms and different ways of implementing a coin system. I'm also in Steller, Counterparty, and Peercoin because of the trends and past performances.
Great friend that the way to go on crypto-world, I also following these currencies and just one more, you will for sure like this one, have a look just to know more. https://steemit.com/new/@digitaleddy/introduction-in-a-large-range-of-opportunity ,
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