There will always be people attempting to predict the
markets. This is not only the case of cryptocurrencies, but something that reflects across all of them. The techniques used are widely studied by people who want to participate of these markets, but mastering them I’m convinced is highly improbable. As much as it may be correct to say that analysts are more right than wrong, but for a really long time I’ve been trying to think exactly why that is the case.
I’m thinking of this because this says very little about the value of an asset. If you were to think logically about the value gasoline for that matter. I doubt your way of looking at its value would be to attempt to predict if others would be willing to pay the same price for the gallon. You know you need it, you know it’s going to be used, so you simply purchase it.
Since it seems a little obvious to me at the moment that the speculative market is mainly driven by market sentiment, it’s also obvious that if someone would want to do something to improve the value of an asset, that contribution should be focused on improving sentiment. In other words, a positive representation of the asset, a proposed application, a working product.
On these respects Steem has a huge advantage over other assets on the cryptocurrency world and as such remains a blockchain no investor could really dismiss lightly.
I hope many here remain positive and not allow fear to dominate. There is a lot of track before the true take off.
Steem on my friends...