It is a market madhouse
{And we've only just begun...}
It surpassed the price I got for selling my first batch of Steem ever, quite a while ago. Currently Steem is at 34 US Dollar cents, went up in 24 hours by almost 23%. Isn't that great? Well yes of course! We are not at the one dollar a Steem yet, but we are moving towards it in quite a fast pace. Prices moving up by the second, almost. The BitMoney market is going nuts. And the Steem blockchain type family member BitShares is even blasting through yet another roof, moving towards 3 US Dollar cents.
The BitMoney avalanche is happening! (Can somebody please reply with the appropriate Ron Paul GIF?) There I was holding on to my BitCoin, LiteCoin (YES!), Steem (Power/ Dollar) and a few others, longer term patience. And then all of a sudden it started to rumble. Altcoins rising, Bitcoin too, yet dropping in market dominance, that means more investors getting into BitMoney {Also Known As: Coins, Cryptos, Smart Cash and so on}... Once this gets triggered like a small snowball rolling off a mountain, it will gain momentum and that will speed up fast! And yes it does, I just had to look several times, the market cap almost hitting at 47 billion US Dollar... This is mind blowing, again.
Where I stated recently, carefully, that it might burst through the 50 billion market cap before july 2017, might have been a bit on the conservative site. The 24 hour trading is almost at 2.2 billion, this is the avalanche happening and I guess it will get noted by the traditional financial market investors. Because where there is money to be made... And the best thing about decentralized BitMoney is that it is created debt free, unlike the monopolized bankers money. So Japan moved in big time, Europe staying way behind, but that means there is another growth market wide open there. (More indepth analyse of the market numbers and figures in a recent post by JR Cornel.)
Exciting times, again and again... It seems there is still much more to come. Steem going towards one US Dollar in value, BitShares maybe soon at 10 cents. Could even be that I was way too conservative in my speculations about these two blockchain type family members. Then Steem could go towards...? Well, beyond 5 US Dollar? Or am I just a bit high on good news right now, that might be it, because it also popped up in my mind that BitShares could go towards 1 US Dollar.
After the fantastic announcement of Daniel Larimer about the upcoming EOS parallel processing smart contract platform launch, I thought there would be an easy time ahead. But then when I saw the current BitMoney market cap, I changed my mind, it is still a madhouse and I'm loving every second of it!
Have a good one!
BitMoney, the easy way to pay
design by @oaldamster
NOTE: Only put in what you are willing and able to lose. And your speculation could be as good or as bad as mine.
My ode to Steem and its community, the Goof Rock style song: "On Steem"
{Beware, it has hit potential, in the sense that someone might want to hit you when you play it out loud... Hahaha ;-)}
EDIT 1,2 & 3: Text corrections