What do you think why the price of BTC is Falling and when will we go up or is it end of BTC and Cryptocurrency? and most Important What will be the least price of steem will be in the end of December 2018?
I do not think this is the end of the cryptocurrency market. Of course anything is possible but there are some cryptos out there that are actually useful. Steem is one of them. I use it everyday and that's the real definition of value. Yes there are lot of issues but what crypto hasn't got any?
In order to grow we will need to get rid of hundreds of useless coins. We are in the process of doing that but it will take more time.
I think Steem can go a lot lower this year because Bitcoin can still go a lot lower. Don't be surprised when you see a Steem price of less than 10 cents. I'm not saying that it will happen but it's a real possiblity.
If we look at the technical situation, it does not look that good. We have lower lows , lower highs, low buying volume and the trend is down. There are some positive bullish signs but I'm not paying much attention about them just yet. The next support is at 3000 dollars. If that falls, we are going to see some real panic selling.
I want to see more capitulation action followed by a good strong bounce. After that we would see a long accumulation period.