Not that I am some detective, but If I tell you that the massive drop in the price of Steem makes me happy, i am definitely deceiving myself. Therefore i have been digging to know why This happened, I mean there have been worse Bear markets but, so how our dear Steem is taking all the massive blow from this year's DIP?
If you are familiar with Steemnow, a platform to check some of your activities on the Steem Blockchain, you will notice at the top a message saying;
"Steem is offering Massive Discount "
Maybe not exactly in the same sentence, but that got me into my detective mode, I was looking for the exact price of steem this time last year, even though I didn't get it but steem was below a dollar back then, so why the deeper drop in price this year? The year of Crypto?
One thing you must know is that, despite the present price Ogba Bitcoin which is below $5000, by this time last year, Bitcoin price was nothing compare to the price i mentioned above. If you don't know, let me recapitulate, the price of Bitcoin is a major determining factor for the price of other Cryptocurrencies, hence when their is massive rise and fall in the price of Bitcoin, every other coin take the blow.
Which bring me back to the point, there was Black Friday last year, how come the price of Steem never dropped so low?
The only answer I could conclude on is that, there was massively discounts on Steem because we are edging closer to the very launching of Smart Media Tokens, and this the best way to offer massive investors the opportunity to have great ROI on their various investment.
If you have enough fiat, here's your chance to acquire a trailer load of Steem, if you don't, like me, then earn it in little portions from your interaction on the Steem Blockchain and maybe through your curation if you can't win some Steem in any contest.
I try to motivate myself and other steemians during this massively steem price drop, hence I came up with these to encourage you all, hopefully the price of steem starts to rise after Black Friday!