Price Analysis

Steem Price Analysis: Steem’s New Upgrades May Save The Coin From a Downward Trend

eToro
  • Steem continues to play seesaw as the prices move more down and less up now
  • Steem makes new upgrades empowering users to increase mass adoption of the token

Steem has been in the news for its fluctuating behavior since the beginning of the year. Some of the investors believe that the second half of the year may put an end to this fickle trend and rather bring a growth trajectory. The recent announcement of publicly releasing MIRA to increase the scalability of the platform can be regarded as the first step in fulfilling the expectations. The market data currently portrays a decent picture.

Steem Price Statistics:

STEEM price chart - June 03

Particulars Statistics
Steem Price (USD) 0.39
Price (BTC) 0.00004678
Market Capitalization 125,671,986
24h volume 1,887,865
Circulating Supply 317,056,704 STEEM
Return on Investment -38.53%

As on June 3, 2019, at 08:14:44 UTC, STEEM coin recorded a Market Cap of over $12 million. Steem is currently ranked at 63rd position in the global ranking. In the last 3 months, as also depicted in the graph above, the price of the STEEM price has fallen from $0.56 to almost $0.39 as on date. There has been a continuous fall with only a few upward trends in between. In the last 30 days, the coin has shown an upward trend of over 34% by rising up to $0.39 from $0.29 and in between peaking as high as $0.44.

Steem Price Prediction:

Steem has been witnessing mixed reactions from the market. While some believe the currency has a long way to go, others are of the opinion that there is a drastic fall in store for STEEM and it may crumble down very soon. If we go solely by the price trends, there has been a considerable rise in the STEEM value in the last 5 months when the price was around $0.26. The coin value may increase up to $0.9 by the end of 2019.

Steem Coin Conclusion:

STEEM may prove to be a good investment in the long run if the firm can get hold of a strong partner to put an end to the rumors and establish trust among the investors.

Jodie Miller

Jodie Miller is experienced journalist. She holds double degree in journalism and communication. She joined our team as a content curator. She enjoys writing and curating contents related to finance and forex world.

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