Voted for
- Normal Market
I honestly would like to think that this is just a bear market, but since the whole idea of it being a bear market is based on the fact that STEEM has traded higher, if you take a look at how long it's traded higher and how long it's traded where it's been over the last year or so, it's tough to say this isn't kind of the way it's supposed to be.
Looking back, a case could be made for the fact that crypto hit at least an initial surge of great interest, and just got so blown up that it had to correct, and it's primarily been doing that ever since.
Does that mean STEEM is destined to always trade at $0.13-$0.40 USD? I hope not. Part of the problem is, regulatory issues are still being hashed out, and governments aren't so quick to do that because crypto is still largely unknown, misunderstood, and potentially threatening to the status quo.