Today Steem is currently listed on Coinmarketcap for $2.00 USD!
In a recent discussion I had with another Steemian I said that if Steem could establish a price floor of around $1.50 and shortly after breach $2.00, that a $3-4 price is possible.
I will be watching the markets closely
Are we in the beginning of a STEEM bull market?
We are certainly in a bull market for cryptocurrencies, nearly every coin has seen dramatic price increases in the last few months. It has not been uncommon to see 1000% gains. Steem has certainly benefited from the interest and money flooding into the sector, although it has not seen the same dramatic price action as we have seen in other alt coins.
Is Steem preparing to break out hitting $4 or $5?
It is hard to know for sure, the sector is notoriously volatile and wild price fluctuations are very common.
What I would say is that Steem continues to make higher highs and higher lows, we could be setup for a nice run, if that occurs price action could accelerate as speculators rush in looking to find the next big return!
I would stay on the conservative side hoping to see STEEM push $2.75 - $3, but remember anything can happen! The price could easily fall if whales decide it is time to take profits.
Let me know what you think in the comments below!
(This is not financial advice)
If you want daily updates on the price of Steem I recommend following @leongkhan who does Steem investor reports daily.
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