I've been keeping my eye on the price of steem and steem dollars since I joined steemit just 6months ago. But obviously in the last few days everyone's attention has been drawn to the crazy fluctuations in the crypto markets.
So it got me thinking, don't panic it didn't hurt and I am OK. What would my return be if I had invested in steem and bitcoin exactly 12 months that ago and just let it ride and cashed out today.
OK, let's do some fag packet mathematics!
Bitcoin:
1yr ago the price of bitcoin was $897.33
And its price today is $11778.70
So by dividing today's price by the price a Yr ago we get a return of 13.13 times your original investment.
A very healthy return.
Steem:
1yr ago the price of steem was $0.16
And the price today is $4.26
Divide today's price by the price this time last year and you get a 26.63 return on your original investment.
So if you've been around the blog a few times and have been worried that the price of steem has been beaten down. Or maybe you think the steemit platform is no good! Maybe you just wish you had invested in another cryptocurrency just remember this. Steem has not only out performed bitcoin but it has more than doubled it's performance.
Congratulations, give yourself a pat on the back for choosing steem.
If you are interested in maximum returns I. E. If you had played smart and cashed out at the zenith of both bitcoin/steem I'm happy to do the calculations and research and let you know