Welcome to my 1st Weekly STEEM Price Analysis! In today's issue, we will be discussing about STEEM POWER vs STEEM DOLLARS (& STEEM COINS) ...
Wednesday 21/06/2017 - Week 1
"Influence tokens which give you more control over post payouts and allow you to earn on curation rewards"
In other words, it's the influence that you have when upvoting content. You might have noticed, that some users (dolphins, whales) have significantly higher voting power over most users (minnows).
The voting power simply translates to the amount of rewards (SBD) that a user's vote generates. Why is this so important? Is because every vote you make, brings benefits to both the recipient and yourself (in the form of curation rewards) - hence, the more powerful you vote, the more both of you win.
STEEM POWER can be withdrawn by starting the powering down process, which takes 13 weeks (3 months) and your're given 1/13th of your STEEM POWER every week, until the powering down process is completed or stopped.
"Tokens worth about $1.00 of STEEM"
Basically, STEEM DOLLARS (or SBD) are the currency of the STEEMIT platform. Your votes reward SBD and your rewards are also paid in SBD. These can be traded at any time for STEEM COINS or Bitcoin once you move them to a trading platform, and you can cash them out in your local fiat currency (USD, EUR, GBP, etc.) after exchanging them.
"Tradeable tokens that may be transferred anywhere at anytime. Steem can be converted to STEEM POWER in a process called powering up."
So, a STEEM COIN is the cryptocurrency backing the STEEM Blockchain, that is mostly used for trading. Compared to the SBD, STEEM COINS are not rewarded for your activity on STEEMIT, and are actually purchased (or converted from SBD) and have a significantly higher trading volume, market cap, and in recent months, a higher price as well.
Now that we understand what each of the above STEEM "currencies" are, and what they do, I think it's time to talk strategy. Any wise investment needs a plan, so what is yours?
So ask yourself this question: Why am I on STEEMIT? Am I here for the SHORT TERM gains, or for the LONG TERM ones?
- Be active on STEEMIT. Post creative, fun, or interesting content. Upvote, resteem and comment.
- Take advantage of your SBD gains. Cash in and cash out.
- Send your SBD to a trading account/platform, trade it to BTC (Bitcoin) and sell it for our local currency. Enjoy your money :)
- Take all the steps from above, invest in the community, learn the ropes.
- Always use your SBD gains to power up. STEEM POWER is like a snowball effect. The more you have, the more you get.
- Be patient, persistent, and you will for sure reach a point (dolphin or whale) where you will be able to just cash out and not affect your power or influence on STEEMIT.
- Start buying (and holding) STEEM COINS. You will see that the value of the STEEM COINS will go up over time, as more and more people join STEEMIT and find out about it (just like Bitcoin, Ethereum, etc).
I think now that we have a better understanding of what we're dealing with, it's time to look at some numbers.
Here is the price of STEEM COINS as of today:
Let's take a look at a 30 DAY chart as well:
My suggestion would be to go to http://coinmarketcap.com/currencies/steem/#charts and see the numbers there as well, in more detail. For now, I will do a short analysis of the last 4 weeks, and the price of STEEM at that times:
- May 24th 2017
Price in USD: $1.33
Price in BTC: 0.00057039
Market Cap: $310 million
- May 31st 2017
Price in USD: $0.91 - 31.58% decrease in 7 days
Price in BTC: 0.00041046 - 28.04% decrease in 7 days
Market Cap: $214 million - 30.97% decrease in 7 days
- June 7th 2017
Price in USD: $2.06 - 126.37% increase in 7 days
Price in BTC: 0.00076263 - 85.8% increase in 7 days
Market Cap: $482 million - 125.23% increase in 7 days
- June 14th 2017
Price in USD: $2.15 - 4.37% increase in 7 days
Price in BTC: 0.00082367 - 8% increase in 7 days
Market Cap: $502 million dollars - 4.15% increase in 7 days
- June 21st 2017
Price in USD: $1.99 - 7.44% decrease in 7 days
Price in BTC: 0.00079604 - 3.35% decrease in 7 days
Market Cap: $466 million - 7.17% decrease in 7 days
Now, with the numbers in front of us we can see:
49.62% increase of the USD in the last 30 days
39.56% increase of the BTC in the last 30 days
50.32% increase of the Market Cap in the last 30 days
We're looking at an increase of roughly 50% overall on the price of STEEM, so a $1,000.00 investment last month would be worth $1,500.00 today. Let that sink in, and think if you're in the game for the short term gains, or the long term run.
"steemit.com has a global rank of #11,261 which puts itself among the top 100,000 most popular websites worldwide. steemit.com rank has increased 57% over the last 3 months. steemit.com was launched at February 21, 2016 and is 1 year and 121 days. It reaches roughly 1,271,490 users and delivers about 2,797,290 pageviews each month." - according to http://www.statshow.com/www/steemit.com
From all the data we have, it's safe to say that everything is indicating towards a steady growth in all areas related to the STEEM network. We're looking at about a 50% growth in the last 3 months in traffic on the website, and another 50% growth in just the last 30 days in STEEM price.
With all this said, I think we're safe to say that STEEM POWER is the way to go. So start early, power up your account every time you get the chance, and reap in the benefits in the near future.
I will keep a close eye on the market movements and the traffic that we're experiencing, and keep the community update every week. If you found this post useful, I hope we will see each other next time! :)
