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RE: Steem at $6, it's time to celebrate! What is next?
Great post, Ted.
I just saw this article on SMTs by NASDAQ: http://www.nasdaq.com/article/how-blockchain-based-cryptocurrency-can-make-online-publishing-more-profitable-cm895389
This is all shaping up to be a huge year for STEEM. Multiple, established businesses are about to get an opportunity to diversify their revenue streams utilizing the SMT platform. Just a few publishers to jump on board for SMTs is going to create a domino effect where once a few publishers do it and start to see how easy it is, all the big players are going to start doing it.
HODL that STEEM. We're going to see north of $20 this year!
Good catch. Yeah. I was just thinking yesterday when I saw the Steem price start going up, that this uptrend creates the virtuous crypto hype cycle. Meaning, Steem as a currency is likely now fully considered to be in the long-term crypto bull market. By December 2019, I could see $100 for Steem price. I could not imagine that price a few months ago when all of crypto under 200 bil market cap. Now that I see the valuation of other projects, Steem at $100 is doable.
Steem is nice because there is a business enterprise associated with it. If that enterprise wants to increase revenue, it needs to see a higher Steem price. Few projects have this business motivation associated with it from a dedicated corporation. It's a nice driver for innovation and @ned seems to be a smart guy by essentially borrowing the BANCOR innovation of smart tokens and throwing it into Steem. This is a solid strategy to borrow innovation.
I agree and appreciate @ned 's strategy here. If SMTs prove to be the success I think they will, $100 STEEM seems more than easy. We need that demand to start picking up in a big way for the SMTs and for those ICOs to prefer to use the STEEM token.