Just because it's Friday evening and we all had a long week - well, I don't know about you, but I did - I thought to play a little bit with my favorite tool these days, yes, you guessed it, a STEEM chart.
What you see above is the weekly price chart for STEEM during last year. I drove a line over the tops and added a few annotations.
What's so interesting about this chart?
Well, first of all, since some of you asked me if I know when the price of STEEM and SBD was $8 dollars, I will tell you that I've been around when the price of STEEM was 10 cents. That's the bottom hit on March 12th 2017, when STEEM was a meager 6,217 satoshis.
After that low, a big spike followed, taking STEEM almost to 100,000 satoshis. Oh, those were the days :) But what goes up must go down, so it eventually came back down to 9,985 satoshis on December (not pictured on the chart). Since Bitcoin was already to the Moon at that time, we didn't seem very concerned, because, in fiat, STEEM was worth just a little over $1. Ten times more than March 2017, right?
Then the big pump followed, in January 2018, when STEEM reached $8.01 on January 3rd and 60,575 satoshis on January 21st. Phew, what a ride!
Now, I want you to focus on this: during the bear market of the last 3 months, STEEM bottom was at 22,384 satoshis. Which means a higher low than the one in November last year. Almost twice as high than the last low. And followed by 3 consecutive green weeks.
What to expect from all this?
Well, the most important thing seems to be the crossing of the line I drew over the tops - we already touched it a week ago. Crossing that line will be pivotal if we're betting on a STEEM bull run. The higher low we had on March 18th seems to support an upward pressure and increases the chances to pierce above the downtrend.
So, if that line will be crossed and if another bull run will start, then we should all get space suits.
If you know what I mean.
But even if we don't go to the Moon, let's just enjoy this Friday evening. Maybe have a glass of wine and watch a good movie. The markets will still be here tomorrow, next week and next month.
Let's just enjoy the ride for a while.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I'm excited to see my upvote worth going up. Unfortunately, today's gains can't be used to predict tomorrow's activity.
Thanks for your information price is going up
STEEM start to be very powerful we also can see that the trading volume is getting higher and higher as Steemit get more and more users , i think it's just the start and we will see the price getting much higher soon
I hope so! Traffic on Steem-based sites has been leveling off. Hopefully the higher prices will bring people back!
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Interesting article, we hope that steem and sbd continue to rise because those winds that blow are good omens, it's time to relax as you say hahaha.
Greetings.
wow this is very impressing nice to see that Steem is doing so well i'm sure it's will get stronger and stronger
If u love animals dont eat them.
That's not how ecosystems work.
Yes steem is going really well since last 3 weeks. Hopefully steem will continue rise the same way and will break the all time high January 8.01 record. Keep sharing @dragosroua
Whoop this is exciting, last time i predicted 3.5,.now i see us hitting a 4, this is like a double bull run, its been a while we seen this kind of thread, and do you know my fav tool?
You got me their for a second.
For a moment I thought that the current price would be $4.
Guess I need to read better next time.
Like moon...Time to go moon bro
during the bear market when Steem was down most people left and said that Steem is dead. Then now that Steem is rising again I see some of those naysayers back and posting like crazy to make up for the time that they weren't here.
It is easy to forget the price of Steem when I first joined as it was just more than a dollar. then we hit the highs of December and January and then the market corrected itself and with BTC going down most coins went down as well.
Yet I am confident with Steem because while other coins are speaking of their potentials uses we already have it. When others talk of apps that are gamechangers. We already have it and continually develop more.
We have tons of things going on with Steem and indeed we just need to keep steeming, driving utilization of it and see it flourish.
Well said.
Well I'm kicking myself now @dragosroua. I actually bought Euros to buy some Steem with, when it was just over a dollar, over Easter weekend and never got around to it.
So I still have some Euros just sitting there and I still have some bitcoin from before Easter that I never got around to buying Steem with. That's not so bad because I can hold onto that but I'm annoyed with myself that I didn't get my finger out and use my Easter Euros to buy Steem! 😢
I suppose that's the nature of the game though and everyone has similar stories.
I hate missing those opportunities, too. Maybe you can catch it on the way down next time!
Indeed @samuel-swinton but when will that be? And will it ever go as low again?
This is why I am not cut out to be a trader! 😂
This is the way I look at it: if I believe it will go up then it doesn't matter how high it is now! But it still needs to be a price where you feel comfortable buying. I bought at $2 so I feel pretty good about that now!
Well I do think it will go up @samuel-swinton but I also think it might come down first! 😂
What is really hard with this charting is that steem could be on a bull run and never go up. If bitcoin goes up at the same rate. The number of satoshis stay the same, but both cryptos get more expensive in dollar terms.
That 6,217 satoshis back in march is not the same as 6,217 satoshis today.
Yes, the decoupling between STEEM and Bitcoin is something that will hit at some point, probably in 2-3 years, once STEEM marketcap is at least 10-20% of Bitcoin's (if ever). Until then, any increase in Bitcoin will drive STEEM (and all the alts) up with it.
It's been good news throughout this week and it's been mad fun and excitement in the crypto world. More to come.......Just watch out.
See this value go higher is amazing. Good for the heart and eyes
we all are waiting for steem go to the moon \o/
Joined Steemit when it was about $7. I hope we get that point soon.
It’ll be interesting to see how it plays out. I always enjoy your analysis. Happy Friday!
I see steem hitting 4 in 3 days . The greens brings up-smiles. Yeah we don’t need to go to the moon cause I’m enjoying my Friday evening here seeing the price of steem and sbd shooting up . Thanks for sharing this joy . Keep steeming and touching lives
Hi dragosroua,
Intersterting how Steem rose 3 weeks in a roll....looking at your weekly chart, Steem looks to move up 1 more week then retrace down 2 weeks than up again 2 weeks.
Then, I hope it will go past the down trend line and to the Moon...How does it sound?
You can help me learn to trade. I had an event last summer that caused me to forget some things. Just getting back onto steemit. I dont remember how i used to trade steem. I think i used poloniex. I need to learn to read charts too.
Hi live2love,'
This free group is the best place to learn trading cryptos, forex and stock....
we use only one method, QFL and the founder is the quick fingers Luc who is the master trader and Steemian....
here is the link to the discord....Hope there is no waiting list....sign up any way...it will be worth the wait.
Start from the education and training part first.
https://steemit.com/trading/@quickfingersluc/would-you-like-to-join-the-quickfingerstraders-slack-channel-it-is-open-again
Once you learn his method, you can become a pro trader who can trade stocks, forex and cryptos.
Read all my posts too about forex and cryptos. Of course, you can ask me in here too.
Sure would be a nice time to announce the SMT release date, or some equivalent (communities release date?). Better yet, to announce that they're about to go live.
Steemit Inc strikes me as quite savvy when it comes to timing their news releases, usually announcing them during the most pivotal moments on the price chart (relative to technical analysis). Of course, there's no guarantee that all the ducks will line up in a row before such moments present themselves. Just sayin'....
I agree! SMT's are going to be so good for the price of Steem.
Ohh thats good price of steem is up as compared to SBD
Wow dear actually you help us for sharing this content..you are brilliant content writer..keep it up my dear..
Steem will $20 end of the year
Now the colour of Steem is green.
Thanks for your information
i lke this steemit
Hey, just wanted to let you know I gave you an upvote because I appreciate your content! =D See you around
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best analysis ever I saw.
Pretty encouraging signs over the last few weeks for the whole market - alot of the news says that after tax season is over the cryptos generally do well. Lets enjoy the price rise well it lasts :)
I wonder how high SBD go this time and whether it will end up back pegged at $1USD like its supposed to be?
As long as we keep finding new floors a step above the last one, I'm good. The highs and the lows can come, but in the end, it will be the step up that matters. That upward pressure breaking through the downturn I think you called it. When the new lows look like yesterdays highs, the stairway to the moon is being built. Yeah, I know. Everyone else is going in a rocket ship with space suits. I'll take the stairs. I'll enjoy the view better that way. :)
To the moon!!! :) lol If I had to "guess" I would say this will be a pretty good summer. Even if steem "only" hits $5 our earnings will still improve.
Sometime playing with chart is fun and specially the steem one :D
It is nice to see the value of my wallet rising for a change. The next couple of months will be interesting.
If we do get a good run, then it should spark some more interest in Steemit. If the devs can get the next hardfork out in time for that interest, then things could explode.