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| comment | | "parent_author":"",<br>"parent_permlink":"steem",<br>"author":"riseofth",<br>"permlink":"it-is-interesting-to-see-steem-went-down-as-far-55-after-reaching-35-ran-in-cmc",<br>"title":"It is interesting to see Steem went down as far 55 after reaching 35 ran in CMC.",<br>"body":"Steem dropped 20 places from recent high of 35 to 55. It is amazing that Steem can rise 20 places and drop 20 places. In between,<br> Steem's price has dropped or risen 15 cents. In the meantime,<br> BTC is having great time above $5K. EOS has also enjoyed the ride the along with BTC.\n\nHowever,<br> the other fluctuating coin is Nano. It was below 55 ranks few weeks back,<br> now comfortably sitting on 35. What is the deal here?\n\nNano were initially insta-mined similarly to Steem. Very few people were aware that Nano then RaiBlock could be mined using captcha solving. Another thing about Nano,<br> it also has zero fee transaction similar to steem. However,<br> it has limited supply of circulation similar to IOTA. It is easy for Nano to reach a higher valuation and stay there.\n\n![steem-nano.png (https:\/\/ipfs.busy.org\/ipfs\/QmW3km5gvTLFxhRqidNoANWnCKnFRkmGYN8a5h71KGpGJh)\n\n\n\nOn the other hand,<br> high price of Steem creates selling pressure from speculators,<br> early adopters,<br> passive earners and daily earners. If new money is not entered at sufficient rate,<br> Steem price struggles. Recent lack of activity by STINC or delays in MIRA release is probably making some speculators queasy and made them get out to buy other cryptos that are moving along with BTC such as EOS,<br> Cardano or BCH.\n\nHowever,<br> one has to understand Steem is more than a cryptocurrency priced in fiat. It is a growing ecosystem with 8.5% (GDP) growth rate. There are are growth everywhere,<br> however,<br> inflation nullifies the growth for time being,<br> hence Steem price cannot increase.\n\nSteem is building a mega infrastructure of highways,<br> where millions of passengers (users) will ply through using mass transit systems(DApp). After the building of the structures are done,<br> users will arrive. It is painstaking and brain-nerving wait for Steem HODLers. Rome (Seem) was (will) not (be) built in a day. Some affluent small cities (cryptocurrencies) came and gone,<br> nano can be one of them. Since other than providing free transaction,<br> it does not provide any intrinsic value.\n\nThe goal of Steem ecosystem is to grow sustainably. New investors and users will buy up newly minted Steem. The demand can slightly subside supply,<br> then Steem's price will grow. But the nature of rise and fall in demand is not smooth but highly volatile. Therefore,<br> Steem's price is going through very volatile phases. But Steem may reach positive volaille state sooner or later with few major updates.\n\n**Disclaimer: This opinion is not a financial advice,<br> it my personal perspective and opinion. Please seek professionals for financial decisions.**\n\n\n<center>![undervalued_steem.png (https:\/\/ipfs.busy.org\/ipfs\/QmcYbEw2fAdSZtAgts1DiTjJEkd9mU5PjBzkT95TrfLz4q)<\/center>\n\n\nImage sources: Most images are open sourced (e.g. Pixabay,<br> Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.\n\nThanks for reading.\n@riseofth\nCryptominer since 2013,<br> occasional trader and tech blogger\n \n\n ",<br>"json_metadata":" \"community\":\"busy\",<br>\"app\":\"busy\/2.5.6\",<br>\"format\":\"markdown\",<br>\"tags\":[\"steem\",<br>\"coinmarketcap\",<br>\"cryptocurrency\",<br>\"investing\",<br>\"busy\" ,<br>\"users\":[\"riseofth\" ,<br>\"links\":[\"\/@riseofth\" ,<br>\"image\":[\"https:\/\/ipfs.busy.org\/ipfs\/QmW3km5gvTLFxhRqidNoANWnCKnFRkmGYN8a5h71KGpGJh\",<br>\"https:\/\/ipfs.busy.org\/ipfs\/QmcYbEw2fAdSZtAgts1DiTjJEkd9mU5PjBzkT95TrfLz4q\" " | | comment_options | "author":"riseofth",
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