⬆️ How can STEEM Trade Value go up 📈 ?

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STEEM value trades is determined by three groups as follows:

Supply and demand factors
Market psychology
Technical factors

Below we'll take a look at each group individually

1. Supply Vs. Demand for Driving STEEM Value

When a huge demand for STEEM is created because poeple are willing to convert their local currency into STEEM by selling their own currency to buy STEEM . In addition, when the owners of STEEM won't sell enough to match the demand. STTEM Value will go up

Or, if the Supply exceed the demand, STEEM value will go down

2. Market Psychology of STEEM Value

In the case that the Cryptocurrency economy weakens and demands slows due to increasing instability, for instance, When investors buy back their Real currency, it has a dampening effect on the Cryptocurrency .

Well, STEEM needs two important things in order to have long-term sustainability and increase the price.

- Users / Portfolios

who will create the fundamental supply and demand chain by buying and selling the currency in exchanges

- Business / Usability

If people start using STEEM as an exchange of value, that is, to be able to buy tangible products or services instead of using them only as investments, then STEEM will gain a great advantage over other currencies that are only a speculative investment.

That Will happen if some companies accepts STEEM as a form of payment, which will gives STEEM usability.

3. Technical Factors that Impact STEEM Value

Traders are tasked with evaluating whether the supply of steems will be greater or less than the demand for steems. so, they need to pay attention to any news or events that may impact the steem's value. This includes the release of various government statistics and announcement, banks analysis and other economic information that can help them to determine whether there is strength or weakness in the Market

In addition, they need to incorporate the views of larger players in the market, to determine the general economic sentiment. Sentiment will often drive the market rather than the economic fundamentals of supply and demand.