That's a good question.
Steem is correlated to the bitcoin price and cryptocurrency market in general. For steem to make new all time highs we need a new bull market. I expect the market in general to go up 10 times in value between now and 2021. That means a 2 Trillion dollar market cap. Even more is possible because in the cryptocurrency market the moves we make are always overextended. People are very sentimental and everything goes in cycles. In bull markets most people are over excited and in bear markets people are very fearful. So most money can be made by trading the sentiment instead of HODLing.
When the bull market comes back i expect steem to go up more in value than the market in general. Because it's an altcoin, alt's go down most in bear markets but recover stronger than bitcoin in a bull market. And i believe steem is one of the most promising projects out there. There for my price target is 8-16 dollar in 1 to 2 years from now. But it will probably take us longer than 1 year. A bull market usually starts slow and then in the last wave goes parabolic before crashing hard.
