Steem has not been doing well lately, that is an understatement. It has not done as bad in dollar terms, but against Bitcoin, it has done horrible. So lets take a look at the price. Here is the daily Steem chart:
Comment: From this daily chart we can see that we dont have any real support until the black horizontal line located around 0,00019 BTC. In my view, the most likely scenario here would be that Steem will fall further until it stabilizes around this price level.
The good thing is that if Steem will continue to fall to this level, that could be a very good buying opportunity for the long term.
There are a lot of positive things going on with Steemit right now, the DTube launch and the fact that we have around 1500-2000 new users signing up each day, that is extraordinary if you ask me.
Happy trading!