Cindicator: STEEM back in the predictions!
It has been quite a few months since STEEM has actually featured in a direct binary question on the Cindicator platform. I guess that interest was lost in it during the end of last year as other projects started to look more promising. However, with the annoucement of the TRON/Steemit integration/takeover/buyout last week (was that only just last week?)... there appears to a great deal of renewed interest. Of course, having a one day spike in price did also manage to catch some eyeballs and turn some heads (perhaps not quite the eyeballs that we really want...).
So, there will be those who are interested in STEEM as a platform, possibly from the Tron ecosystem which currently is pretty much dominated by gambling dApps despite the original intent to launch as a decentralised media platform... who will want to be engaged in the long term. Those are probably the people that we want...
However, the short term spike will have also caught the eyes of "investors"... who have no real loyalty to the STEEM ecosystem (or any other for that matter). The ones that have a long term view are useful to us... but the retail and short term "investor" who is only looking for short term gains and is obsessed about ROI numbers without understanding that value, network effects and development is not necessarily priced into short term price indicators are much less useful.
Anyway, the question for this binary choice is whether STEEM will see a 12% rise or fall first.... tough call seeing as we saw a recent announcement linked spike in price... and then drop that was reflected both in crypto and traditional markets across the board (for reference, the SP500 fell a record amount in the last couple of days!).
What is interesting is that despite the inability to hold the price of the announcement spike (in terms of BTC)... the volume of the subsequent daily drops has been much lower than the two large volume spikes that accompanied the annoucement! This leads me to think that people aren't really willing to give up ground on STEEM at the moment.
Of course, it does help that the current price would have them underwater with respect to the announcement price. On the other hand, in crypto terms.. it isn't that big a difference! Especially if you are investigating the longer term earning potential (via blogging... or as a confidence in the platform as a whole) of STEEM!
I think we will crack 12% up before we drop to 12% below... it is a tough call this time, as the current trajectory is definitely dropping! However, I think we can recover before we hit the bottom trigger! Maybe...
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