Top of the day to a great Steeming community!
According to Wallletinvestor.com forecast System, SBD is an awesome long-term investment. No wonder
It has been good news all the way in the last couple of days for cryptocurrency enthusiasts especially the fledging steemit community. After falling to a dangerous low level in previous months, the Steem engine has roared into life again and it appears to gather pace with every move. While we salivate about the Steem hitting an all time high of 10USD, though not in the nearest future, I wish to draw attention to some of the factors that has led to the latest resurgence. Ride with me.
Peoples community
The participatory nature of steemit makes the community genuinely interesting. The cool part is that since everyone wants to participate and wield more influence in the community, the demand for Steem will continue to be on the as membership of the community skyrocket! High school Economics of course makes us understand that the higher the demand the higher the price!
Short supply of tokens
About 80% of the total Steem was actually pre-mined and guess what? An estimated 10% of the total Steem was given out on July 4. Also, the crypto assets of the community is not very liquid that it can be easily sold. Most of it is contained in Steempower and not Steem tokens. This guarantees a perpetual shortage of the tokens compared to potential demand anticipated with potential influx of new members.
More exchanges
The feature of steemit on more exchanges such as poloniex, Bittrex etc has given the tokens more global recognition. With buyers and sellers now having more market to trade. It appears steem would gather more momentum in the coming months. More importantly,developers are working towards making steemit to feature in more exchanges. The anticipation of Steemit being sold in bigger exchanges has in recent days driven the price up.
Now the big question?
So will Steem hit the $10 mark in 2018? We all wish the answer is yes but with cryptocurrencies you never can tell. Take Bitcoin for example, the price of Bitcoin skyrocketed beyond everyones wildest imagination in 2017 and while the excitement was on, the bubble burst in the early months of 2018 and yet Bitcoin is on the rise again. According to many forecasts, the price of steem will continue to rise in the nearest future. Some enthusiasts argue it would hit 10USD in 2018. This is a possibility but it is far from a guarantee. Indeed there are no guarantees with cryptocurrencies. According to walletinvestor.com the price of steem would move from 3.283USD to 5.307USD in 2018. Personally I think this estimate is too conservative. The icing on the cake however is that the same site forecasted that Steem will sell for 12.193 USD in five years time. Though a conservative estimate, at least there is an upward movement of price. This is pretty good for long term investment.
These are my views about the price forecast of Steem, I am by no means an expert on this so I will be glad like to see your views in the comment section. Thanks for reading!
