After a massive spike in price to over $4.60 USD, Steem seems to be finding a solid foundation to move higher. Dipping below $2 to sit around $1.80, I feel Steem has almost hit a bottom and is poised for another move up. The 38.2% Fibonacci retracement is $1.75 and should offer some good support. If this rise happens it will take some of the pundits by surprise. Well known Bitcoin advocate, Tone Vays, has recently been quoted calling out Steemit as a Ponzi Scheme.
I go over some of the reasons Steemit's market cap could be over $1 billion in the next few months In this Vlog.
Happy Investing. C#