STEEM is touching the bottom support that we hit back on June 29th at a price level of $1.09. We are hoping this level holds, but I'm not really counting on it. We're about to be making a lower low on this. The correlation with BTC is still strong and everything is still pulling back.
Don't be too alarmed here. I actually think this is a very good thing. STEEM is one of the best and strongest long term cryptos in my opinion. China ranked STEEM in their top 5 cryptos along with Ethereum. Personally, with STEEM at a low price, I'm super stoked at the chance to increase my holdings. If you look at the growth just on the last rally, it was about a 70% spike.
With the potential of STEEM, we can see longer term potential be huge. If STEEM gets to $10 (which is likely on the next crypto boom), we would see gains of 10x.
Anyway, enough rant....STEEM for the win!!