STEEM Price Action: Ignore It And Enjoy The Sweet Spot

Everyone is happy with how the price of STEEM is going. We came a long way from the gloom and doom of the $.85 days just 6 weeks ago. By the way, did you pile into STEEM when it was under a dollar? I certainly hope so.

This move is not unexpected. The steem blockchain has a lot going on.

So the question is, what to do now? We are already seeing some people talking about the move being too fast and things reversing. Of course, with pricing action, things can always reverse.

My suggestion is to ignore the price other than for a casual look. Yes, get excited that it is going up while also not getting emotional about it going down. There will be ups and downs. Cryptocurrencies are very volatile.

Instead focus upon what is going on. We are seeing exponential movements in many areas.

For example, Steemit is moving up the Alexa ranking very rapidly. This past weekend, we saw it break into the top 2,000 websites worldwide and top 1,000 in the US.

Now look at it:

Those are very impressive numbers especially considering the move in the past 4 or 5 days. The other day I wrote about steemians commenting so as to increase the length of the posts. This helps with ranking in Google. We are starting to see the impact, overall, of having more articles up (which means more keywords hit) and longer ones. Over 20% of all traffic is derived from Google searches. It is crucial we keep this going.

Another reason to get excited is the fact that, for the past week, the steem blokchcain is averaging over 1M transactions per day. This is a feat only matched by ethereum.

Once again, I must point out the meter that blocktivity.info uses. ETH is running on fumes at this volume while STEEM is not breathing hard at all. The potential for growth is magnificent.

The next fork is the real game changer. At that time we are going to see the introductions of Smart Media Tokens, Communities similar to Reddit, and an accelerated/automated sign-up process. These three additions are going to enable the steem blockchain to handle millions of more users. It also is going to bring that many people to this blockchain.

Blockchain technology is staging a massive revolution. 2018, in my view, is going to see blockchain as the technology of the year. People are going to start getting exposed to it, many times without knowing it. For that reason, STEEM is in the ideal position. It is about to become a billion dollar blockchain. This is significant since it does tend to garner attention. People just need to be patient. Wall Street money is starting to roll in. It will eventually find its way to STEEM, if it already isn't.

There is absolutely no risk in holding STEEM. This blockchain has enough development on it that it is guaranteed to be ongoing. One way to prove this is simply to read what is happening on uptopian.io or @steemblog. There are hundreds, if not thousands, of developers banging away at code creating apps to go on this blockchain. At present, we have a nice array yet there will be more.

Google Images

My view is that the traditional Internet is not going to be able to stand up to blockchain. Just like the banksters are dead, so are many of the traditional social networking companies. Some might adapt while others will not. Blockchain, from a technological standpoint, is the future. People can deny the reality all they want. We saw the same behavior 20+ years ago when the Internet was coming around. There were attacks levied against it claiming that it would not amount to much. How wrong they were.

So my suggestion is to enjoy the sweet spot we are in. SBDs are still priced at a high level for some reason. This enables us to get more STEEM to power up. Take advantage of this. At the same time, the price of STEEM is going up which is making our posts worth more (in dollars). That is going to attract the attention of newer people who still think in dollars. Powering up should be the objective for the next couple months of every dolphin and minnow. At present, it is still over 3 STEEM for each SBD one earns. This means that each post is paying roughly 6 times what it normally would.

We are on our way to a $100 token (maybe my end of 2018 prediction was to conservative).

For those who are wondering, this is where we are right now.

If you found this post helpful, please give it an upvote and resteem.