Well, yeah I know that is a pretty weird thing to say as I am posting this on Steemit but I really don't the price of steem to shoot up ..
Why right ??
Well, above is the price action of Steem for the past four months . It is in a range between $0.90 and $1.70 .
Now, of course I want the price to go up but this heavy consolidation usually results breakout which can be possible on both sides.
I.E. Going below $0.90 or Above $1.70.
With all the development and progress I am on the positive breakout ..
The problem ..
You know if you have been with steemit for a year or so or good in reading the candlestick you would find that Steem becomes highly highly volatile when it goes up following by a major rock bottom drop.
It means whenever Steem goes up it falls even harder and then worst it STAYS at the bottom..
In 2016 , Price of Steem shot upto $5 around and then fell to as low as $0.07 in a quick period of time .....!!!
YEAH,.....From $5 to $0.07 per coin.. Now , you could say "Meh that was 2016 It is much better now" .Well in 2017 in went to $2.80 and fell hard back to $0.80 more than 50% value lost pretty quickly ..
This says something about the price action of Steem . That it can't deal with quick shoots meaning the price doesn't stay if it shots up quickly . Worse is it loses more 50% of its value while correcting itself.
What then >>??
I think personally I won't want any emergence spikes in Steem . I would like to keep what is happening .
A strong consolidation and a price increase slowly and steadily could be really good intead of those spikes making the market volatile and then losing people's money..
I think Steemit is going in the right way and price is following too .. By slow and steady I meant I would be happy to look Steem at $5 a year from now like the ending of 2018 rather than the starting of 2018... I would love to have it slow..
Opinions can be different . This was just my study by looking the price action over the time and being with steemit for 4 months now ( Many more to come..)
That was it , people ..
Have a great day. Don't get disapppointed by failures. Be healthy .
Peace