For months, Steem (STEEM) looked like a niche coin, related mostly to the use of a single social media site.
Now it has burst its all time high
Steem that is currently trading above $7,at the same time "Steem Dollars" the digital asset that was supposed to be tied to the US dollar by algorithm-based interventions, has risen above $10.
as you can see just before the end of the year it was pretty low as compared to the price now.
At one point, Steem Dollars reached a peak around $12, while STEEM remained depressed, with a recent low around $0.80 before the sudden recovery,making users confuse.
for now steem is gaining but as soon as bitcoin starts gaining pace its price will eventually fall.STEEM mostly relies on trading on Bittrex and Poloniex, and the current rally may be short-lived.
But STEEM has the potential to with the future aspect to become major social networking site than facebook.
And yes I think it is a short term rise but long term holders can surely make profit.
source:https://cryptovest.com/news/steem-bursts-to-all-time-high-predictions-of-10-to-materialize/
Grt Bro
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