Market Today

By gduran | gduran | 20 Aug 2019


The trend for Bitcoin has been slowly upward as you can see on the chart (taken from https://coinmarketcap.com/), most alt coins are slightly down in the last 24 hours, this includes Steem which is trading right now at about $0.175 as has been normal the last few days. I think Bitcoin will end this month at about $12,000.00 far from the $15,000.00 I was expecting it to be at, let's see if this does happen.

As for Steem I really was expecting it go down to $0.15 but then I saw a lot of negativity in posts and figured it would go all the way down to $0.10 but it actually has surprised me, it hasn't gone below $0.16 so far, maybe it will surprise me even more and start on an upward curve, possible but I really don't know why it should.

I think everyone agrees that Steem with all it implies is seriously undervalued, in fact many people think it should be one of the top ten in market cap, I don't know if that should be so but it certainly should be much better placed than it is. I guess we can lay the blame on anything or anyone we want but the main problem isn't who is to blame but how to fix it.

HF21 is just around the corner whether it ends up being positive or negative time will tell, but I am sure its initial impact on Steem's price will be negative, Steemit will be seeing less action because people will want to wait and see what happens, less posts mean less money for a lot of reasons. Then when the impact starts normalizing we will know what the results of this hard fork will be, but I don't think it will bring any major changes to the price except the initial downturn. Let's just wait a few more days.

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gduran
gduran

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