Steem Explodes Higher… It’s Time Everyone Looks at Steemit Again
Steem Explodes Higher… It’s Time Everyone Looks at Steemit Again by Jeff Berwick – Dollar Vigilante
Bitcoin continues to make all-time highs, currently near $1,560, but altcoins are absolutely skyrocketing.
One of the biggest gainers was Steem which rose 50% today to well over $0.50.
Many may remember that about 9 months ago we began talking about Steem and the social media site Steemit as our first post on that site earned over $15,000!
Many naysayers, trolls and haters all called it a scam… just like they did with bitcoin. But, fools will always remain fools and now Steem has been skyrocketing.
Back when I began talking about Steem nine months ago, I recommended using the site, Steemit.com, but not purchasing the cryptocurrency that backs it, Steem.
That’s because, at the time, Steem was trading far too high, in my opinion, with a market capitalization of over $400 million for a brand new cryptocurrency.
I started recommending it to subscribers in The Dollar Vigilante newsletter (subscribe here) a few months ago, however, when it was near $0.20.
My reasoning was that its market capitalization was much more in line with where it should be than it was last summer.
And now Steem has really taken off.
What separates Steem from a lot of the cryptocurrencies now, however, is that it has been a viable cryptocurrency and website for more than a year and it has continued to progress.