Will steem able to hold is position above 1$ or its going sink again?

in steem •  6 years ago 

View the original post on Musing.io

No one can accurately tell whether the price of STEEM will be above $1 or whether it will sink below. The cryptocurrency price is determined by the market cap divided by the circulating supply. As of writing this post, the market cap is $274,859,836 (roughly around $275 million) and the circulating supply is also around 275 million STEEM (numbers obtained from CoinGecko.com). As you can see, when you divide $275 million by 275 million, you get a number around $1 for the unit price of STEEM.

There seems to be a new influx of capital into the crypto-markets and based on what we have seen in the past few days, we can reasonably predict that this should likely continue as investors feel comfortable and a sense of bull run builds up. Personally, I see a lot of value in STEEM and would like the price to go up to its ATH (All Time High) levels. 

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!