As we are already 4 days in September we are facing a slight market correction, after a blasting August. As every other correction the experienced traders and investors are holding, and the newly arrived and amateur traders/investors are panic selling up to a 31 billion market correction at the time writing this article.
If we take our time to study and observe the charts, white papers and most important the purpose of the cryptocurrency itself, we will notice some crucial factors WHY STEEM is more stable than many other cryptocurrency available today.
For today's comparison I chose NEO, presented as the chinese ETH, and huge blast in the month of August jumping from a $5 average value end of July to a 10 times higher value, spiking the $50 price and ultimately breaking down now to less than half of its value and as we speak trading at $17.30, with a forecast of $10 by mid September due to the Chinese restrictions.
Second choice ETH, because it is the second largest market cap coin, with a huge boost this year after several partnerships, and the ICO sales. Many expected that this coin will surge to reach $500 in august, which is still possible due to the future possible Frexit (bullet point data https://steemit.com/ethereum/@livecrypto/eth-to-hit-it-s-all-time-new-high-usd500-september-2017) however the actual state of ETH is that during the dip of 31 billion this month, ETH suffered a drop from $389.50 to a current $294.20 as I am typing now.
Both this big players had drops between 30% (ETH) and 65% (NEO) when on the other hand we have STEEM that is strongly keeping the correction percentage margin up to the 20%, and the reason behind the dip in STEEM is that the traders are exchanging it to buy the "sky fallen" coins hoping for a fast profit when they recover.
This article is a conclusion of the current markets stats and I would highly appreciate any feedback both positive or negative, because this is what is helping the STEEMit community to grow and become more valuable. As well all votes much appreciated.
Sincerely,
@livecrypto - LC