Hello fellow community members.This article addresses your problem about the topic of today.
In terms of $, the past 3 Weeks, Steem Prices are down by 40%. This is a big decline but must not be given a bad name simply due to following statistics:
Between the 4th July and 14th July prices increased 1500%.
Now considering this, the recent decline seems more of a little importance as the above 1500% this very year indicates steem is strong.
Steem Supply has increased 15% the past 3 Weeks & All this increase has gone to Steem(it) Contributors and Steem Power Holders.It's a good thing I guess after all for us traders then.
Also Bitcoin(cryptocurrency benchmark the same way the $USD is a benchmark for world currency), has fallen 12% through the same period.Now I predicted this Bitcoin decline can affect others as well in my article of click here if u want any details.So if this decline for bitcoin 12% then in a way can be seen normall for steemit to fall as well to some degree.NO need to be mad about it.
Cryptocurrency projects generally have an investor base with short term horizon period. It must be kept in mind that Steemit is in beta stage and there is long way to go & is exciting project with much potential, but it's going to take time.
You really want to believe at this stage on steem because:
Contribution, Curation and Promotion by all users will help Steemit to get closer to taking on Reddit. We need to all look to this long term goal, and as long as we keep moving towards it, the price of Steem will take care of itself.
No worries people,just hang on tight.
