Weekly Noob Look at Crypto Market #19 - STEEM Can Go Up Even More?
This was a very turbulent week for me, as I have started to create videos on D.Tube and it was my first participation in CTP Badge Hunt, so I was all over the place... But, on the other side, I'm aware that some other things paid the price for that... Anyways, the changes are good and it can be only easier with gaining experience. But, when Sunday comes, I'm relaxed writing this crypto market post...
It was a slow and steady week for Bitcoin as it didn't make crazy movements... After losing $260 2 weeks ago, it got it a little bit more during this week... The price went up from $7120 to $7444... We had a small dip under the $7k, but it was very fast corrected and the price was pushed back over 7K... Can we call this 7K as a bottom?
After that nice move up in November, December isn't a very good month for Ethereum fans. The price continued to fall, now it is around $132.5 and last week was $142... So another $10 less in the pockets of investors... If we take a look at the price in BTC, that is even worse, as the price has fallen from 0.01999834 BTC to 0.01783786 BTC in just 7 days!
On the other side, our favorite coin STEEM has come back to Top80 at the CoinMarketCap website (it is actually at number 78) and that's great news as more investors will notice it. There was a rumor that Justin Sun (owner of Tron) is buying the Steemit Inc. company and that this rumor is the main trigger for this price rise, but it lasts too long to be the only reason... Maybe the STEEM time has come? We will see in the next week or two...
As BTC is currently pumping, the STEEM price is slightly lower than it was these days, but still, it' better than in last week's report! 1 STEEM is worth around $0.138 and it was $0.133 last week. The price in BTC is slightly less than last week, it's 1853 satoshis and it was 1869.
From this week, I have decided to reduce the number of tokens that I follow in my reports... I have decided to stop reporting about DEC token because its price is connected to the price of card packs in Splinterlands, which are indexed in USD, so, DEC is currently used as a "stable coin".
In waiting for IPN to come to live, CTP token has slipped again for a little in the price. Buyers are willing to pay for it 0.01 STEEM per token, but sellers don't want to go too much under 0.018 STEEM per token. The circulating supply is 797,427CTP tokens and the last 24h volume was 35 STEEM / $4.86.
During the week, it looks that PAL token has found a temporary bottom in the price around 0.064 STEEM, but the price is even going slowly up... At the moment it is trading with big margins between 0.079 and 0.099, and in the last week's report, it was traded around 0.06 STEEM. The circulating supply is 5.879 M M PAL and the last 24h volume was 379 STEEM / $52.73.
The price of SPT token is almost the same as the last week and there were no big movements during the week. It is traded in the range 0.0030-0.0033 STEEM, and the last week's price was 0.0029. Circulating supply is 30.256 M SPT and the last 24h volume was only 46 STEEM / $6.43.
And, for the end, my second favorite token at Steem-Engine, LEO token. Last 10 days, LEO token has a very stable price around 0.20 STEEM. At the moment it is traded between 0.200 and 0.208, almost exactly the same as the last week. Circulating supply is 3.88 M LEO and the last 24h volume was nice, 471 STEEM / $66.19.
My staked tokens summary (this week - last week):
CTP token - 35000 (32380)
PAL token - 918 (895)
SPT token - 17625 (17023)
BATTLE token - 8888 (8623)
LEO token - 3255 (3234)
~ph~
DISCLAIMER: I am not a financial advisor. The advice here given is not a piece of financial advice even though my excitement might make it look like such.
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Looks like I might learn something about bitcoin and steem. It is all so confusing but it looks like the future. Thanks for sharing.
Crypto and blochain are already the present and the future, for sure... And we will see about cryptocurrencies and their place very soon...
I love these weekly reports :)
Bradley
Thank you, Bradley! It's not an expert advise post, but, maybe it's better that it's not :)
im sorry and no offense but reading the title made me LoL ...
when i signed up STEEM was at around USD $7 .. somewhat over that, sbd went as high as $3 i think ... and ever since ...
well ... :)
you should dig up some history on the very beginnings, the HUGE ninjamined pool that can probably regulate the price for a few years to come (which is not invested in SP and held by a very small amount of people) and in general the quaint idea that low price is gud (i think they think they are like in currency wars the size of the EUR / USD or something) but since there's nothing to export in cryptoland it's actually the other way around, people with real money wont even look at coins under $10 or maybe under $100
i dont wanna be negative and i NEED this thing to go up too, because (not that i spent more than i couldnt miss, but) i spent money i think would have been spent a LOT better on other stuff by now
this is reality and facts and by all means do NOT believe a word i say and dig the intel up yourself.
I personally feel its better if people know the actual situation instead of the propaganda b/c you will get a lot of disappointment with regulated prices and vast ninjapools waiting to be sold off
and the last thing this thing needs is an even worse reputation , in order to get anywhere the platform needs to grow and serious applications need to revolve around it
and with shady stuff around it
thats unlikely
fyi ...
Firstly, thank you for your comment!
I'm at STEEM a little less than a year, and I heard about ninja mining... It's bad, but it is as it is... A lot of coins had a bad reputation and shady things around them... If you scratch the surface, you will find a similar thing on Ethereum, Tron, Bitcoin Cash, XRP?! Loool... And these coins are Top10...
I don't want to say that STEEM is the best of the best.. just saying that filthy things are everywhere... Also, I have put that TITLE as I don't say that I'm an expert in trading or whatever... Just making a current re-cap of the markets that I'm interested in... Also, I didn't advise anybody to buy these coins/tokens... It's more like my personal journal...
On the other side, you can't say that everything built on STEEM is junk... There are interesting dApps out there and more are coming... At least, STEEM have some use case... Maybe we won't be rich as normal members, but the STEEM as a blockchain has use case...
Have a great day!
:) @ph1102 ... well no, the place is addictive, thats for sure , otherwise i would have been wise to sell what i had when it dropped to $3 and move on. I know most places have a bad rep for greed but the current concept of de-centralization is nothing like what satoshi intended. It's also nothing like bitcoin has (who ever heard about one guy with 1000 bitcoins downvoting someone on the network and making them lose theirs ?) the neo-chains are marketing The original concept was freedom and de-centralization. I know especially EOS has a real bad name for that and i read they once already blocked accounts , like locked out ON SUSPICION of ..something something ... which means theres nothing de-centralized about it, if a handful of people can decide that and you have zero protection against it ?
i need a second to google this but i think all the others have a hard cap, while steem has none.
https://www.coindesk.com/120-million-vitalik-proposes-cap-ether-cryptocurrency-creation
https://www.reddit.com/r/eos/comments/6mnbcl/what_is_the_eos_coin_maximum_supply/
a bit of google says TRON has a max supply of 99 billion coins
BTC afaik still has the original 21 million set
if that doesnt say anything by itself, Vitalsky seeing the light on top of that ...
The problem with the ninjamined pool is that no matter how much people buy, there's a huge supply to regulate the price ... lately it seems to be pushed to 12 cents and the moment it tops $0.14 someone somewhere triggers against some wall or walls and down it goes so in essence buying now is pointless unless you know how much there is in waiting. Stands to reason they wont sell all of it, but it also stands to reason that you wont get 7000 euros for a steem 10 years from now as there will be more coins than people on the planet
one thing would be to STOP the block producing and only produce steem the moment someone buys it (talking STEEM here, not steem-it , a bit of a problem, emperor Steemit as the absolute ruler of the illusion of de-centralization) but even if, the pre-mined pool would still be there and the very few mini-whales (you cant really call someone a financial whale b/c they have a million steem, right, thats like wallstreet kiddieboo)
so those people can regulate the price ... about two years ago i saw some big accounts talking on how they would
dump their supply of liquid steem to bring the price down because of a few people who kept voting on each other, something reallly petty
a few months after it started
and it was screwed for everyone
then ApocalypseFork 21 made sure only the ones on top are still making money off of steem itself
they killed the bidbots, promoted tokens (which is monopolized by the same few as they own steem-engine which is actually a registered DEX) and now tokens are the new bidbots lol so i think they will be labelled bad too in one of the next forks because the underlying problems never get solved
and and
and :p
(and so and such)
also : the opinion of 500 people is worth less than the opinion of one if each have 1 dollar to vote with and that one single peep has 501 dollars to vote with so you dont get public opinion (which means VERY un-attractive to advertising as they need stats on what people want not 'gud content as seen by a few 15percenters')
and so and such ... (i usually dont reply anymore
also cos when i do i tend to end up locking down the internet with the size of my posts but
it has vast potential but in the end its a pack of affiliate marketeers using 'crypto' as a magic word and blockchain fashionistas who would tell you you need to comb your hair with it because that is how its done ...
:D
and merry christmas and may 2020 bring more fruit than this year and all that
Nice update about the coins and tokens of interest Zoltan, and great to see Steem doing well and keeping it's own on this level, it could be starting to consolidate here for a while and then go up once the userbase starts growing again, and you have grown your stake a lot, stay awesome.
Thanks... Unfortunately, the STEEM isn't a leader in the crypto world, so we need some major move from BTC, ETH that will trigger other things... Patience is virtue... :)
Yeah but it is a leader in decentralized social applications on a blockchain, it's just not very convenient to use for purchases compared to other crypto's and that needs to change, hopefully the IPN can help with this, when it comes around, stay awesome and Merry Christmas.
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