Check out the 90 day chart for Steemit.
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What does interest mean in this instance?
Why start Aug 4?
why not start earlier?
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You can go back more than 90 days of course, but I wanted to just look at a shorter term. Steemit was still on a steep incline at this time, so I wanted to show how quickly the tables can turn in only 3 months.
As for interest Google states:
Numbers represent search interest relative to the highest point on the chart for the given region and time. A value of 100 is the peak popularity for the term. A value of 50 means that the term is half as popular. Likewise a score of 0 means the term was less than 1% as popular as the peak.
I'm curious to see what people think has caused the downward spiral in a short 3 months after such a rapid rise.
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ah.
I was wondering..it's not interest in the financial sense then.
It rather looks like there might be some correlation to the value of steem?
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There is a direct correlation it would appear. It makes sense. When there is more interest there would be more demand and prices would be higher. As there are less and less users evangelizing for the platform and bringing new interest there is also less money coming in.
It would be interesting to see if the interest chart can be used as an indicator ahead of time on the price.
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Maybe. But I don't think so. I would think they'd simply Google search for Steem if looking for the currency. I assume that they are researching the actual Steemit platform if using that term. Granted, the price of Steem has dropped, and the issues with SBD is up in the air. I'm wondering when the trend will start to move upward and if it does, will the price of Steem?
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One can only hope.
But not right away...I need to accumulate a few thousand more Steem first.
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I agree. I view it as a buying opportunity. It's no different than Bitcoin going from $1200 to $250. You had 2 years to buy at such low prices before Bitcoin began to surge again. I'd say the main difference though, that unlike Bitcoin, Steemit the platform needs to grow and become better in order for Steem to ever rise in value.
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