design with canvasHello steemians, warm regards to everyone, and thank God it is Friday (TGIS). Firstly, I'd love to say a big thanks to the SteemitCryptoAcademy Community for the amazing contest.
Should you invest in Steem now? Perform technical analysis to predict the price of Steem in December 2023. You can use Tradingview.
Yes, I should invest in Steem now. However, the problem I am having now with investing in Steem is capital. I really want to invest in STEEM now as the price is still affordable and the tendency of Steem to rise anytime soon going by the technical analysis that I have conducted using https://coincodex.com/, as shown below, it is good to invest in STEEM now.
https://coincodex.com/crypto/steem/
According to the technical analysis carried out on coincodex.com using the following technical indicator, Steem is currently on a bearish trend while the greed and index is at 53, which is neutral. Before the bearish market, Steem recorded a high of $0.231 before dropping to as low as $0.2168, as shown on CoinMarketCap below.
https://coinmarketcap.com/currencies/steem/
Based on the Steem forecast above, now is a good time to buy Steem. Let us take a look at how far the price can go in December 2023 by making an analysis using coincodex.com. Here, I have predicted the Steem price using the following indicators: the relative strength index (RSI) momentum oscillator and the simple moving average indicator.
Looking at the chart above, Steem's current price at the time of writing is above the 200-day simple moving average (SMA). Since March 2023, which was around 28, the 200-day simple moving average (SMA) has been signaling buy for the last 24 days.
As of April 12, 2023, the price of Steem was trading above the 50-day simple moving average (SMA), which the indicator has been signaling buy for the last 10 days.
https://coincodex.com/crypto/steem/
Based on the technical indicator above, the Steem 200-day simple moving average (SMA) will rise to $0.201460 by May 2023. The short-term 50-day simple moving average (SMA) of Steem will be expected to hit $0.230306 towards the end of May.
According to the prediction of May, by December, the Steem 200-day simple moving average (SMA) will rise and hit $0.34738 by December 12, 2023, while the Steem short-term 50-day simple moving average (SMA) is expected to reach $0.40348 by December 28, 2023.
As for the relative strength index (RSI), the momentum oscillator indicator is an indicator that helps traders know when the crypto market is oversold or overbought. The oversold level is below 30, whereas the overbought level is above 70. Currently, at the time of carrying out this analysis, the RSI is at 45.04, which means that the Steem market is in between buyers and sellers. i.e., at a neutral level.
Describe the step-by-step to transfer USDT to Steem cryptocurrency in the Steemit wallet. Use your wallet. Screenshots are needed.
Here, I will be showing you the steps that I used to transfer USDT to Steem cryptocurrency in my Binance wallet. However, I consider my Binance wallet to be so special because it is my savings wallet. Now let's take a look at the steps below.
How to convert USDT to Steem
On my Binance wallet I have 8.22288965 USDT, as shown below.
From what you have above, I can't use it to trade for Steem via spot trading, but I can convert it to Steem using Binance Convert. In converting USDT to Steem, I follow the steps below.
Step 1: I click on "Trade," at which point I then click on "Convert," as shown below.
Step 2: On the Binance convert interface, at the Form, I select USDT and click on MAX, whereas at the To, I select Steem, as shown below.
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Step 3: I then click on "Preview Conversation," and immediately after that, I click on "Convert."
As seen from the screenshot above, I have successfully converted ** USDT to 9.21 Steem.**
How I withdraw Steem cryptocurrency from Binance to my Steemit wallet.
In withdrawing my STEEM token from my Binance wallet, I followed the steps below.
Step 1:* On my Binance wallet, I click on "Withdraw" and select "STEEM" as the crypto and choose "via crypto network" as shown below.
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Step2: At the withdrawal interface, I then input my Steemit username as anthony002 and the memo as Cryptoacademy Contest, 2.01 Steem, before clicking on withdrawal.
Step 3: I click on "Confirm" before approving the withdrawal with the code sent to my email.
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As you can see above, my withdrawal was successful on Binance, and looking at the screenshot from my Steemit wallet below, you can see that the 2 Steem have been credited to my wallet.
How many Steem Power do you currently have? Analyze the expected growth of your Steem Power until the end of 2023. Show screenshots.
https://steemworld.org/@anthony002
Currently, at the time of writing this analysis, I have 328.58 Steem Power, as shown in the screenshot above.
https://steemworld.org/@anthony002
Looking at the screenshot of my reward summary above and how I have calculated it below
| Curation Reward | Author SP | Steem | Total | |
|---|---|---|---|---|
| All time | 0.35 | 210.87 | 209.90 | 421.12 |
| Monthly | 0.26 | 38.11 | 38.06 | 76.43 |
| Weekly | 0.12 | 14.58 | 14.57 | 29.27 |
Looking at the data in my rewards summary above, if I keep on earning 76.43 every month, then from now till the end of 2023, which is 8 months from now, I will end up earning 76.43 8 months = 611.44. Plus my current Steem power, I will earn 611.44 + 328.58 = 940.32.
However, my earnings may increase above what I have calculated based on the type of support that I will get for the remaining months. Thank you for reading. I am inviting: @simonnwigwe, @bela90, and @yhudy.
This is amazing.
Admire your knowledge on crypto.
Keep it up.
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Thanks I appreciate your support.
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Great work, I can see you really took your time to come out with this post. I wish you the best in this contest and truely more effort and support from the fellow steemian will definitely increase your steem Power. Thanks for the invitation.
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Thanks mma, for your encouragement I appreciate.
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Hello brother, you have presented a very beautiful post and explained all the points very well. I also agree with you that this is the best time to invest in Steem token especially for the long term investors.
Moreover, I wish a very good luck for you in achieving your target. I hope that you will earn even more Steem Power in the said period and achieve the Club Dolohin status. All you have to do is to just be consistent and give your best.
Good luck for the contest.
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Thanks brother, I appreciate your support and encouragement.
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Hi brother @anthony002,
According to you the price of Steem will hit $0.34738 by December 12, 2023 and is expected to reach $0.40348 by December 28, 2023. It will be good and I hope that your prediction will come true.
You convert USDT to STEEM and I appreciate your method that how you send 2 STEEM into your Steemit wallet.
According to you your Sp will be 940.32, but I hope that you will touch 2000 Sp with you hardwork and consistency. A good and ifromative article. Thanks for sharing.
Regards,
@malikusman1
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You have plans of investing in steem now but the only issues is capital. You made a proper technical analysis and predict the price of the asset to hit 0.4$ at the end of the year. You have also shared a detail guide as to how you can transfer steem from an exchange to your steemit wallet and also predicted thw amount of steem you should have at the end of 2023 which is approxiamatly 1k based on your current earnings. I wish you success
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Thank you so much sir, for commenting so well on my post.
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