I have been intensively analysing the altcoins for a couple of days and I am looking at a very common pattern i.e Each and every meaningful crypto has gone at least 15X of its initial value but there are a few coins that are left but they still have nearly the same price in BTC but their Fiat USD price is increased. We all know about the bitcoin rally and due to which nearly most of the coins have lost their value in BTC but USD value is still maintained.
One of the greatest example is STEEM. If we look at the BTC/STEEM chart then we will know that we are back to the position where all the pump started this year and previous year.
But if we look at the USD value, it is still ~2$ . This is where I get all mad, because we are at the most supported area of the market i.e 0.00010000 - 0.00015000 and we are improving but really slowly.
I think great times are coming very soon. This huge hikes in SBD is not merely by luck, it will be justified when the Steem prices will moon. If we look at the STEEM chart, we will realise that there has been consolidation all the time. The volume is being accumulated and it is going to boom pretty soon.
With our current scenario the steem price should be >0.00200000 which is >30$ and my future expectation is >0.0045 which is equivalent to >70$. It may appear as huge gain but it is nothing if we compare it with other markets. It is one of the biggest reason that we say STEEM is the most undervalued cryptocurrency.
This is the reason that I have invested ~$5000 in my Steemit Account. I believe the good times are coming pretty soon.
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