I've seen a lot of posts recently about projecting Steem to $100, but is that even possible? I try to explore how realistic that claim could be.
(Source)
In order for Steem to hit $100 it would have around a $30 billion dollar market cap. Currently that would place it above Litecoin and Cardano and about $10 billion below BitcoinCash. Close to 20 times the value right now.
Has Steem had a jump in value like that before?
Last year at this time, Steem was sitting at $0.17 cents. Now it is almost $6. That is about 35 times the original price. So a rise to $100 doesn't seem to out of the question. During the same time, the entire crypto market cap was around $20 billion and is now over $700 billion.
If we see growth even remotely similar to last year then it is reasonable to think that Steem could rise to $100. But that would mean that the crypto market would need another incredible year and finish next year around $14 trillion and I'm not sure that is possible.
So in order for Steem to see similar growth it is reasonable to think that we'll have to see a lot of other coins fail in 2018. Everything went up in 2017 and if we expect similar growth for Steem, it means that some coins won't see the same kind of growth. Some will need to fail.
2018 is really a show and prove year. Projects will need to start showing that they have what it takes to build a needed blockchain technology and prove they are getting it done.
Steemit doesn't need to prove anything. It is built, it works and it is growing. For that reason, we don't have to worry about project deadlines like other coins. For example Reddcoin. If they don't have integration into some social media platforms by the end of the year, they won't be able to hold the value they are enjoying now.
In that light, Steem is a safe bet in a world of volatility. Most of the Steem tokens are locked up in Steem Power and that really lowers the liquidity of the coin and that should make it more valuable over time as well.
But the real question is, will the markets keep going up? Right now we are in a little bear run, but we are still at the start of this crypto revolution and have a long way to go. I expect the markets to keep going up, but I don't think everything will go up for the reasons mentioned above. I think the good and useful coins and projects will continue to grow at an incredible pace, but the ones that don't show and prove will lose quickly.
So will Steem it $100 by the end of the year? I honestly don't think so. I think if we could see $50 Steem by the end of the year we should be doing backflips. In the long run, who knows what is possible, but I $100 Steem isn't out of the question.
Remember I'm no financial advisor. I'm just a guy telling you what I think.
Let me know what you think. Will Steem get to $100 by the end of the year?
Let me know your thoughts in the comments below.
with all the projects being built on steem, and alongside steemit, there will be a lot more attention on the protocol and therefore the coin. i would agree that if the crypto market keeps growing fast, Steem will benefit.
I agree with your comment that steem does not have anything to prove with respect to the tech and initial use case. put simply, it's a reality as of today, not a dream.
on the other hand, the big vision for steem is to power every website with an SMT. i.e. changing the internet as we know it. this is commonly referred to as "web 3.0" in their papers. If we think about the big vision, there is a ton to prove. HF 20 is late. SMTs are late.
Finally, the steem token is in a number of funds, including William Mougayar's. This is critical to know as most big investors are likely to allocate their capital to funds as opposed to managing their own portfolio of coins. Capital inflows into funds leads to funds scaling up their portfolio. more demand for the underlying coins. if you track asset flows into funds and know their portfolios, you can likely do very well!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wow, so much knowledge in one reply. Thank you. I agree that Steemit has some things they need to do tech wise and accomplishing them can only make things better. I am interested on how the blockchain will develop as more projects build on the back of current blockchains like Steemit. Your point about the funds is important as we see more and more big money come into the market. Great comment. I appreciate it. You got a new follower for sure.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
thanks for the kind words @walkingkeys. my comment would not have existed if it was not for the post. + 1 follower for you as well.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Some enlightening thought and info here. The point re capital inflows into crypto funds is quite interesting, in that such funds will start to replicate traditional asset management norms (i.e. asset manager, mandate, active management, diversification, liquidity, governance, etc.) which will further legitimize them and more acceptable to new investors.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I suspect we will be over $100 by the end of the summer. IMO it does not matter this year how the crypto market is doing in general, as I suspect some projects will be rising up like we have never seen before. Steemit will be one of them!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
$100 by the end of summer!!?? I need more Steem first lol. Hope it stays at 5-6 all year so I can get up to $1,000 and then goes up to $100 next January :-)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for this very down to earth prediction! I see STEEM at $30-$50 by end of the year and much will depend on SMT and other Apps using the STEEM blockchain. Do you think, that EOS will have higher gains than STEEM this year?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for posting about this! I recently created my 3 Steemit goals for the year, one of those being to earn 1,000 coins by 12/31/2018. While I don't think $100 Steem is possible this year, I do believe it will be in the next 2-3 years, and I want to have 1,000 (or a lot more) when it does.
Although I do think that the market will have to grow as a whole, there are "projects" valued at over $1B. As those start to fail, and some will, more confidence will be put into functioning and successful coins like Steem. I think some failure will drive Steem, but I could be wrong.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I agree. We need to clean house of some of these shit coins. My goal is to get to $1000 too by the end Feb. I'm getting close! lol Good luck on your goals. Keep posting awesome replies like this and you'll get there.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you, much appreciated!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No we won’t hit $100 by year end. It’s not possible my friend. We should see $10.00 but remember steem isn’t a limited number. There is inflation and thus a huge growth to $100 is not happening in 2018. Longer term I’d say it may be possible but not in 2018
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah I agree. I don't think we'll hit it either. We had a larger growth last year than what it would take to get to $100 by year's end percentage wise. I hope it happens, at some point, but it's crypto... anything can happen.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think long term it’s a maybe! But more likely $10-$20 range with us having our steem grow though through being active on here
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah, a x20 increase in price would be nice - but it would take a considerable amount for that to happen.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Cool post and content. I think long term it's definitely possible. By the market cap, we are assuming the rest of the markets go up as well. Also, I think it depends on the development and the team behind Steemit. If they keep upping the site and marketing then absolutely it's possible.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah I agree. I think the market will grow, but like I said a lot of coins will have to fall off. We can't have 1,400 different coins skyrocketing every year. I appreciate the reply!!! I hope the team behind Steemit can keep pushing the bar!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think this is key as well and what will happen (not $100 Steem yet, but coins, and a lot of them, failing). Once a couple big failures scare people away from the projects, they will start to focus on the real players -- including Steem.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I agree 100%. I'm trying to only have coins in projects I think will work. You got a new follower.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Money will start to consolidate into the better projects therefore allowing their price growth to accelerate. You always have to remember the correlation between Steem price and user growth. With Steem and Steem dollars being at higher prices now we're seeing acceleration of created accounts. The Alexa ranking went from 2100 to 1300 in a month and a half. If we get another jump in Steem/SBD dollars we could see an explosion of user growth. I figure Steemit would need 5 million accounts by years end plus SMT 'a being a success, plus a healthy crypto market and then $100 could be achieved.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The fact much steem is locked up means less on on open market but this could also be a bad thing if people power down thus flooding market
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It could bring the price down, but since it takes like 13 weeks to power down, it can't flood the market I wouldn't think. Good question.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for bringing up market csap! I just learned this aspect a few days ago and it’s chsnhed my understanding of what is possible and feasible in the crypto world. People like to throw out crazy numbers without taking into consideration market cap and it’s relation to other cryptos lol!!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Market cap is good for keeping everything in perspective relative to other financial investments and services. It is also important to understand the supply of a coin when trying to figure out how far it can grow. I hope that helps. Let me know if you have any other questions.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think ideally it will continue go up but $100 is a nice clean number that is easy to say as opposed to $47.23 or $11
I could see it hitting $100 in its lifetime but in the game of Crypto assessment we all have to understand we of course are going to want the Crypto we own X amount to go to $100.
In it's lifetime yes, and I think anyone saying $100 is correct, but in 2018 it is optimistic (which is fine) but also they have to consider these things take time. I could be wrong, and I hope to see how things turn out.
I'd say its better to focus on improving the platform while other Cryptos collapse due the revelation of overestimation of value - as Steemits community will decide the price in the end.
I'd say $20-30 is as optimistic as I am willing to go, realistically $10.
$100 in it's lifetime for sure, if the community can survive - itself.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You make some great points. It will take us being able to compete more and more in a growing space. I am a little more optimistic about the value of Steem for the year, but I could be wrong. I'd be happy with a $10 Steem price. That would be awesome. Steem is still number 1 in daily transactions and new interest to the blockchain could really grow the price. I do think that $50 is possible this year considering we went from $.17 cents to $6 in a year. I appreciate your feedback and you got a new follower.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you! I appreciate the follow.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Just based on previous numbers i could very well be possible to hit 100 by end of year. last year many cryptos blew up and hit numbers no one expected. Can't call cryptocurrecy a gamble any more now its more like long term investments.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The person that invests for the long run on solid projects are going to be the winners. the ones that gamble, some might win, but many will lose. This whole thing is interesting. thanks for the reply. You got a new follower.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
nice post like always
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you, buddy.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
welcome be good
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I believe 2018 will be the year of many more coins dying out and the good ones continuing to rise. We will start to see more steady gains. Steem to $30 would not be out of the question but it would then start to be a much slowing gain from there in my opinion.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for sharing your thoughts on Steem's price for 2018. While I agree that $100 is aiming very high for 2018, I wouldn't be surprised with $35-$45.
What a lot of people seem to ignore is the fact that a multitude of institutional investors are becoming interested in cryptocurrencies, or already are. With these investors comes a certain sense of reservation to invest in projects without use cases, already built products and many other factors.
Many tokens may fall this year, because of what I mentioned above. Tokens with a real product and use case like Steemit will prosper, but we can not be sure that it won't suffer due to the amount of people who might cash out funds due to the amount that they may lose due to other cryptos crashing.
While of course this is all speculative, I think it is important to note. Thanks for a great post!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think its possible, its a matter of finding a subject matter that can involve the Steemit community.
As for the price of Steemit, I see it only rising. TO STEEMIT WE GO
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I agree, totally possible. thanks for the reply and you got a new follower. Welcome to Steemit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think price of steem up and down. I have no any idea about yet$100 steem
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'll do a blog later today to help you out.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nic post .I liked your posts
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for this very detailed and I’m sure we’ll informed post. I understand very little of stern and crypto currency in general. Is there a resource or starting point that you would recommend to help me understand the basics? Many thanks
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit