There is no doubt that those who have been active in steem over the last 16 months, since the beginning of this downfall that dragged prices to the bottom(?) are the ones that really care for this project and want it to succeed more than anything else.
All you have to do is just look at the potential payouts on the posts. Even to the most skillful of authors. They suck big time in terms of $$$$. For those who weren't around during December - January 2018, post with payouts of 300 - 400 - 500$ were everywhere. Without bid boting. The only good outcome of this downtrend was that those who really care stayed and kept accumulating, while others are gone...
And while what usually drags prices up is BTC's price in most cases, seeing BTC recovering, I thought it was a good chance to see how things looked like for steem the last time BTC was traded at the 8k+ range.
Do you really wanna know?
So this is BTCs overall chart. During the last days of May 2018 BTC was sitting at 8000$ for the last time, so someone would expect that steem and at least some other coins would behave kinda...similarly.
Well...during the last days of May 2018 the price of steem was 2.8$
Yeah you read right...we are 85%+ down since then.
I think I am gonna kill it here before I get a stroke or something...
I do suspect a few reasons why this is happening, but I'd like to read your thoughts...
So feel free to share them in the comment section below.