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As we have been able to realize, the fluctuation of the price of Steem has always been influenced in some way according to the value of BTC, this happens with most of the alternative currencies, but we can also appreciate this phenomenon when we analyze the historical behavior of STEEM.
Currently, BTC is in a bull run where many speculate as to its maximum value for this season.
We can hear outlandish claims that visualize a BTC at 1 Million dollars. Although the market is still receiving significant increases in its capitalization, there are no real indicators to make such a claim.
We must be attentive to capital injections.
The increase in Market Capital is the one that will determine the increase in the price of some cryptoactive. We could see this with the recent investment of TESLA with the purchase of 1.5K Million Dollars in BTC, which was the trigger for an increase close to 50% of its previous value, starting from a value of $ 38,800 (MC = 53K Million $) on Feb 8, until reaching $ 57,500 (MC = $ 61K Million) by February 21.
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New investments are currently being made. Oil tycoons (Kjell Inge Rokke) have their eyes set on BTC's strengths. (I recommend checking @carlos84's post)
A considerable investment on the part of these people could bring a further escalation of the price of BTC. But beyond this, we should think about what would be the true intentions of the world oil sector after the adoption of BTC. In my opinion, rather than seeking to obtain more profits due to an eventual price increase, I believe that what is sought is to give a real use to this cryptocurrency as a unit of value.
This would allow the amounts of international transactions and contracts to be established in BTC, further strengthening the power of cryptocurrencies in general and reaching the cusp of the philosophy that inspired its own creation.
We must bear in mind that when these investments are made in BTC and they obtain good returns, as is currently happening, investors always move part of these profits to other currencies, as is the case with STEEM.
Currently, Steem is reaching the 5th anniversary of its creation, it is a solid project that has managed to increase the number of users and generate trust.
The rise in the price of STEEM is benefiting both content creators and large investors, who have placed their trust and kept their assets at stake instead of taking them to exchanges.
Steem will continue to increase in value until BTC peaks in this bull run. After this we will see a setback and stabilization. Meanwhile, it is still a good time to continue acquiring Steem.
@juanmolina
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hi @juanmolina ,
it would be great to see steemit at 7$ again, I think most content creators and communities could consolidate with such high prices, for now we are all waiting for steemit to reach a new historical level, only time will tell if we are right.
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Hello dear friend.
Steem at $ 7 would be a true blessing for everyone, especially for the community of Venezuelans in Steemit who have found in this platform an effective way to paddle the economic crisis.
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Greetings friend @juanmolina. We are living some interesting days for Steem, I think the time has come for all those who have placed their trust in this system, no doubt its upward movement has been influenced by the movement of BTC, but as you say, this is already a solid project that has proven to maintain a good number of users. Let's hope that its correction will leave us with a good value for the currency.
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Those of us who have trusted Steem for years will soon see the reward for our patience.
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For BTC, I'm thinking $150K, plus or minus $50K in this bull run. As for STEEM, maybe $2, no more than $3. Then expect a 50% to 80% correction from there...that oughta be fun.
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I totally agree.
These figures that you said, look very reasonable.
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excellent publication @juanmolina, you really took the time to investigate and then show everything that is happening in the world of cryptocurrencies, specifically the BTC and STEEM, I am not very knowledgeable about investments made in cryptocurrencies and the so named trading, but with your publication I have been able to clarify uncertainties that I always had.
thank you very much for sharing with us this content. many successes.
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Thanks for reading and commenting.
You will able to learning more about crypto. You should read a lot about it.
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Yeah... I personally think steem price will get to 2$ before the year is over. Maybe 3$ is also possible.
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I like your optimist soul. I also hope so.
Thanks for stopping by, friend.
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Steem and btc are on a bull run we need to grow our steemit account more so that we can earn a lot of money. Hehehe. I believe in long run and growing of my account..
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I was able to see your account growing, dear friend.
I congratulate you.
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y que los ángeles digan Amén!
Me ha encantado tu post, la forma como lo explicas, todo tan claro y ofreces elementos de peso para entender la idea que expresaste de manera tan ilustrativa.
Arriba el Bitcoin, arriba el Steem y arriba esta clase de post @juanmolina
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Oh what a nice comment, thank you very much friend. I take advantage of the opportunity to remind you that the official language we handle in PH is English.
Please try to make your posts and comments in English. Best regards!
Oh que lindo comentario, muchas gracias amiga.
Aprovecho la oprtunidad para recordarte que el Idioma oficial que manejamos en PH es el Ingles.
Por favor, procura hacer tus post y comentarios en inglés.
Saludos!
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Ok.. así será
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I have little experience in this topic to say nothing, I saw this world of cryptocurrencies as something very complex for me, and beyond the issue of being intangible assets, it was hard for me to understand some basic things, these last weeks I have been studying a little about cryptos and I am beginning to understand some behaviors. Thank you @juanmolina for this instructive article.
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I'm happy to know that you're learning every day.
Keep it up.
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Steem, like every other alternative currency, will experience massive growth once #BTC claims the top.
If compared to the previous bull run, BTC dominance has to fall by at least 20% for the price to go exponential. If I remember correctly, during the peak of a previous bull run, BTC dominance fell down to around 40%.
I'm expecting to see massive injections by the end of june.
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Three months of BTC growing remains. In August we'll see BTC top price.
Well, this is my humble opinion.
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Possibly, although we had six consecutive months of green candles I wouldn't be surprised to see three more.
Exciting times are ahead, that's certain.
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