At the moment, the price of Steem is at roughly 7$. Already we have witnessed a HUGE rise since last year, and it's been less than a week. That's great and all, BUT will it continue to grow?

A lot of people have asked the same question, and frankly, no one has the answer. We can just predict what's going to happen and that's exactly what I'm going to do right now.

We have to take a look at some factors that determine the price of Steem.

SUPPLY/DEMAND

Realistically, Steem isn't that hard to get and there's lots of it. On the other hand, for example, we have Bitcoin which is really hard to mine and get a hold of. That also means there isn't a limited supply of it which decreases the value of it instantly. The supply is also bought in at a constant rate and is unchangeable due to the conscious rules. This creates a supply that is limited, and thus people will pay more to get the coins they think have value.

VALUE BY THE PUBLIC

The public perception of a cryptocurrency has big bearing on the value of the currency. Right now, Steem is definitely undervalued by the public. Us Steemians, we know it's value and we appreciate it, but so many people are discouraged by the fact it isn't super popular and heard of all the freaking time. Though, I think that will change very quickly. This year probably. It will get some attention in 2018 and people are gonna value it like the they should.

MEDIA

Media controls the world. Many media outlets are owned by a few individuals and they can often be a major factor on anything, not just the price of Steem. Their words can lead to price manipulation, as well as on reporting on positive and negative aspects of the currency which can cause the price to fluctuate.

For now, Steem doesn't have to worry about that too much considering it isn't that popular like Bitcoin, Litecoin etc. But, it's just a matter of time before this can be a huge problem or a huge blessing. In my opinion, I don't think media is going to have a problem with Steem nor Steemit. It's a decentralized platform helping smart and talented (not always) people to make a living with what they love doing.

Innovation

With many cryptocurrencies being a clone of Bitcoin minus adjusting numbers, innovation is another thing which can affect price. I think Steem is safe here. It definitely isn't something you see everyday and it's actually trying to give something new and original in the crypto world.

So, will Steem continue to grow?

I think YES, YES IT WILL. I'm not sure to what stage but I'm pretty sure it will. Steem is a great long-term investment and that's the way you should look at it. It's not going to be worth hundreds of dollars, probably not even tens of dollars, but you can definitely make some good money off it. If you read something like: "Steem is gonna be worth 100$ by the end of 2018, go and invest everything you have in Steem", DON'T! It's bullshit based on a prediction. If you're planning on investing in it, do your research and decide what you think is the right decision. Or just enjoy Steemit and earn some cash while doing something you love.

Have a good day! :)