Stocks go up and stocks go down. Steem does the same. The reason for these changes in price can be attributed to the simple law of supply and demand nothing more and nothing less.
I've read a few articles on the recent downturn in Steem price. Some announce the coming of a new normal around 3 cents/Steem. Some speak of disaster and an even lower price. I say so be it. If a thunder storm passes would you leave your house. You wouldn't? Neither would l.
SteemIt is a social network. SteemIt is young. Very young. It's less than a year old in fact. Furthermore the value of Steem is not the equivalent of a stock price since its not based on earnings, its based on supply and demand and only supply and demand. Its pure Crypto-currency but also with a social network behind it, supporting it. It has a lot of potential and more and more people are joining every day.
Trading in Steem has steadily grown throughout its life and will keep growing as Crypto currencies will keep growing. They are here to stay and we are all here at their beginning. There will be ups and there will be downs but at some point there will be a HUGE explosion as the rest of the world discovers the benefits of these new alternative currencies.
Let keep strong. Lets keep writing, enriching the Steem experience for everyone. When Steem matures into something bigger than anyone thought of I will be there. Will you?
Stay Strong. Keep Steeming!!!
Cheers,
Alex
Image Sources:
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