On March 11 2017, STEEM was worth about $0.07 and 6100 Satoshis. BTC was worth a lot less than it is now. STEEM was stuck there for about 4 days, and that was the lowest value it's ever hit in USD and BTC.
How low is STEEM going this time?
It's only 1000 Satoshis away from the all time low, currently sitting at the 7000 to 7100 Satoshi range. In USD, that's about $0.25. STEEM is still worth 3 times more in USD now than it was nearly 2 years ago on March 11, 2017.
But Bitcoin was worth $1,175 on March 11, 2017. Compared to now at about $3,500, BTC is worth just under 3 times more (3500 / 1175).
This could mean that STEEM is undervalued right now, or that BTC is overvalued. But that's assuming STEEM is supposed to keep the same value ratio over time, which isn't how it works. STEEM isn't locked that way, and neither is any other crypto.
BTC was worth 16,000 more than STEEM on March 11, 2017 (1175 / 0.07), while now (December 9, 2018) BTC is worth 14,000 more than STEEM (3500 / 0.25).
I think STEEM is worth more, given all that it has on the blockchain, all the apps, the community, etc. I can't predict the future, but it seems like the value will go higher compared to where it is now.
Does that mean we won't go lower? No. I think we might even go below the previous low of 6100 Sats. And we may even go lower than the $0.07 USD. But things will turn around. I see a higher BTC value, but an even higher USD value. Seeing STEEM above BTC though, seems like a dream, but it may happen one day ;)
Thank you for your time and attention. Peace.
If you appreciate and value the content, please consider: Upvoting, Sharing or Reblogging below.
me for more content to come!
My goal is to share knowledge, truth and moral understanding in order to help change the world for the better. If you appreciate and value what I do, please consider supporting me as a Steem Witness by voting for me at the bottom of the Witness page.
