Watching the reaction of Tron (TRX) acquiring controlling interest in Steem I have come to some serious conclusions. The first: Good for Tron. Someone has finally wised up and purchased a unique asset within the crypto space that was comically undervalued due to perceived poor management and carrying the stigma of being an "old crypto,"which has become synonymous for undervalued and not the "shiny new object" dangling in the faces of the pump and dump crowd that pumps a whitepaper with a crypto attached to it, dumps it, and then thanks you playing, I mean paying for this aspirational do-nothing piece of garbage eventually.
The second conclusion: I cannot come up with a proper superlative to the extreme side of positive a new phenomenon that has been captured by those of those that still dabble with all things Steem has been born. The Tron (TRX) audience is a fanatical bunch that make up some of the more hardcore believers in crypto, in their plans, and in their founder Justin Sun. Take the biggest "fanboys and fangirls" of Dan Larimer, and take it up a factor of 10, that is the degree of fervor these people bring to a crypto that needs some believers, as much of that capital in respect that was squandered over the past few years by Steem's central command. Time of course will tell how Sun and the Tron heads operate this abysmally undervalued resource that is all things Steem at the moment, but I am just as curious and given a major boost of optimism that these new people bringing some sense of changing distribution models of the crypto can possibly bring to reform the old "lock box" approach of getting Steem to few elites on the platform, a full blown attempted witness manipulation selection process, and rewards for those that are in the network, leaving essentially a third or more at times of the reward pool locked away to those that make the engine of Steem run, the day to day user and fan of the applications and other creations the platform creates daily.
My personal belief of the forecast is very short term, there are always factors that affect cryptos as a whole, there is always some level of price manipulation here and there, among other external factors like legislation in various places that can change things in an instant, among other black swan events that cannot be foreseen but often write the history and narrative of the day from time to time. But I do see some very encouraging signs starting to form since the acquisition...
If you look at the chart above you will see that in dips in value Steem volume has picked up drastically. People are not stupid, they have been burned before here, and the Tron people that are getting involved in the market are no dummies either, they are gobbling the dips slowly and surely while those that have lost faith or are in a flipping mode are selling on any climb as well, or selling all the time for that matter. Over time this will settle down in my opinion, this is going to be a longer drawn out process. Does Steem double or triple overnight any time soon? Not sure on that, and if it did the price would not sustain itself for any significant period of time. The base value at the moment is being acquired by those that are new to get in and this could be an ongoing trade or acquisition by them that leads this in upward projection for quite some time, of course with some hiccups and pullbacks occasionally, because of course that is what legit markets do.
How far can the climb go? Well by looking at the current price to bitcoin of being a relatively (lately) whopping 1.928 satoshis (bitcoin's lowest unit of measurement), a very conservative resting point in the past prior to the Steemit/altcoin implosion over the past 24 months has been in the neighborhood of 11-12 satoshis. Meaning a very legitimate roof in my opinion of 5.5-6x further than where we are now... just to catch up to that past historical point.
Hold your horses though, disclaimer, as always past performance does not guarantee future returns or guarantees. This is just one "wack-job's" personal opinion of where the roof can be over a longer period of time and guarantees nothing since I unfortunately do not have 50 million sitting in my couch cushions to run this thing to the moon on my own. But I think over time this could be a shockingly nice performer over time and personally I prefer the lower prices but getting price pumps over time also creates insider and external excitement for Steem which is also good.