Good day Steemian welcome to today's Steem price update for 10/7/2019 I have been posting the Steem price update since almost the very beginning of Steemit.com many have came here to discuss the daily Steem price's and changes for just over 2 years now.
I also want to mention just incase your wondering when perhaps something doesn't seem normal from the other regular Price update posts that the daily Steem price posts do occasionally change it's format from time to time.
But regardless of changes we will carry on as usual and by this I mean knowing the price of Steem as it's important for your daily plan or strategy and honestly even if you are not planing to do anything with your Steem I still recommend checking out these updates and keeping an eye on the price, so without further ado lets take a look at today's Daily Steem Price Change for 10/7/2019
Should you be trading with Steem today...?
The warmer weather seems to be sticking around now and while that is great normally I'am required to work more hours during the better days of the year hope that wont be the case. Remember the new Steem rewards system will be taking over soon it is now on testnet, many are not happy about this change, it's putting users on edge with it's possible and most likely go ahead for the Steem hardfork 21 update, my biggest upset is possibly not being able to continue to reward you guy's as much with my votes as they will likely be useless with us moving out of linear.. well that is unless you already get a ton of upvotes then it should be fine. And so like this rewards for comments will probably also be non-existent which is a big shame, seems these aren't good changes for those who want to help support their good followers, to which I also wonder how will this benefit those wanting to do business using Steem? I don't think they will all want to spent time curating, and from what I can tell many are still confused as to how this change will make people want to keep their Steem power if they are getting less value for their stake. If you don't want to see these change's it's recommended you pick the right witnesses to vote on. On March 10th Steem reached it's highest for the year at $0.55 and also on March SBD's had their breakout on the 13th their highest being $1.41. Firstly with Bitcoins they have recently been holding above the $8700 mark, the highest for Bitcoins on the latest upwave was beat on Jun 26th and that was at a value of $13829, there was a big pull-back but nothing that we didn't already expect, Bitcoins had been going downwards putting them to $9770 but for 3 day's they recovered, today we did see Bitcoins reach just above the $13000 mark but they also recently had a big fall taking them almost under $12000. Steem is trying to stay above $0.40 with it's overall crypto ranking position being at around #70 amongst all other cryptos. As you know we beat the January high marking our highest Steem value this year at $0.55. Yesterday Steem began at $0.34 and for today slightly lower at $0.33 which was expected and so no big deal plus by ⏰01.05 Steem was back to $0.34 which lasted until ⏰04.20 here Steem fell back to $0.33 and stayed there for a good while which wasn't surprising. But what did surprise us... well maybe... was at ⏰15.25 to ⏰16.30 Steem fell to $0.31 now while this shouldn't be unexpected we did hear about the possibility of Steem falling to $0.29 and as of right now this could be a possibility so for those thinking of buying in this is a great opportunity. While nothing much as happened with the Steem price for the year there is talk of changing it's linear reward model which is making many users ask what is the point of holding as much Steem power, this is a real shame as I hope those who are still in the game will take the opportunity to keep collecting Steem as right now we are in a seriously good place to grow our accounts the only problem is what if this becomes less important to users with the changes coming, but just remember as the price goes-up collecting actual Steem also becomes more difficult, which if you have noticed the price of Steem as indeed gone up from when we started the year. With myself included in the dolphin count we have over a total of 2000 dolphins and things are going just as I expected when it comes to wealth spreading, whales used to own about %86 of all shares on the system but as from lately would you believe that they only own %55! Now that may seem like horrid news but it's actually really not! Because if we look at say Dolphins just over 2 years ago we owned only %4 and now we own %13, basically the wealth is spreading even without changing the rewards curve. Hivemind is live along with MIRA, getting us out and away from survival mode, and in one example the "steemd" instance size's went from 488GB RAM to 61GB RAM. Ned said that after the cost reduction progress the creation of SMT's will be next but just don't expect it the have all the answers on getting the price of Steem higher plus it seems the focus instead right now is getting hardfork 21 live. If you have returned recently to Steemit please be aware that there as been a wallet split to your account so please have your keys backed-up, yes ALL of them and don't use your masterkey to log into Steemit.com instead use your posting key, remember that when you click on your wallet you will be directed to a completely different website which should be "steemitwallet.com" please don't worry as this website is safe and part of Steemit.com. For SBD's if you remember they broke record on March 13th reaching $1.41 and are currently on a "average" pegged rate, I expected it to be back on average, I say average but lately it's been just about hanging in there especially today but it was good to see 3 days ago that SBD's were being seen at around $1.01 as the Bitcoin movement is not helping. SBD's began yesterday with $0.99 and as for today they were lower at $0.98 but by ⏰00.25 SBD's went to $0.99 which is where it stayed but surprisingly the bump's along the way didn't take SBD's to $1.00 well until at ⏰06.30 SBD's moved to $0.98. They were there until ⏰09.30 going to $0.99 and finally $1.00 which only happened twice today. SBD's continued to jump from $0.99 to $0.98 when at ⏰15.25 the drop started.. going to firstly $0.97 and then $0.95 at ⏰16.55.
Always do your own due diligence the above is only a opinion.
