In general the price of crypto is very low, but steemit offer some thing more, by far steemit is one of a kind, I will love to hear your thoughts on what you think can help out great platform to become even more greater.
In general the price of crypto is very low, but steemit offer some thing more, by far steemit is one of a kind, I will love to hear your thoughts on what you think can help out great platform to become even more greater.
the steem price itself is determined by the market forces so what people do on the market is what will determine if the price of steem will go up or come down,what can be done to make steem to get higher and stable will depends on how much demands it get,that is why we all need to come together to try our best to invest more on steem to make the demands increase and when the demands are increased then of course steem price would become stable and bullish..
In short term I think that some advertising of the blockchain by different conferences and interviews of Ned being held all around the world will give it a boost as well as the launch of SMTs next year, in March.
On the long run to attract investors Steem has to prove that it has a reliable business model that works almost flawlessly attracting and holding those investors. Steemit, as a blogging platform needs to mature itself a bit and earn its name as a profitable one both for investors and the ones using it.
I, for example, wouldn't invest in a company where the great majority of its employees are frustrated about their income and their working conditions. The same way Steemit has to take care of that trending page, of the rewards pool rapists, of spammers and abuser and of course of its good bloggers.
Bottom line it needs to become more like a company than a wild west with no sheriff in town.
1. Number and Quality of Investors - If and when Steem gets the attention of many famous multi-national companies in the world, then the overall price of Steem will definitely increase and will eventually price will stabilize at a reasonable level.
2. Number and Quality of Users - If you've heard of Metcalfe's Law before, it states that the overall price of a network exponentially increases as more and more users are on it. If Steem solves and increases user retention in the platform then it will for sure increase the value of Steem in the market.
3. Getting rid of Fear, Uncertainty and Doubt - Personally I think this is the major reason why crypto is not advancing that fast as we hoped. Blockchain technology is revolutionizing but governments, private entities and media are doing the best they can to spread FUD's to people to prevent this technology to be adapted worldwide as it poses a great risk on their businesses.