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.

13 of the top 15 cryptocurrencies in the world by market capitalization were all heavily in the green again on Sunday with many of them in the double digits of percent gains.

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!

We recommended that people begin using the site and posting there and it has earned just my close friends alone tens of thousands of dollars. And I know many TDV readers have earned a lot of money posting there as well.

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.

Steem had been massively lagging all the other cryptocurrencies which have been skyrocketing in the last few months and appears now to be making a catch-up move.

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.

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Jeff Berwick

Anarcho-Capitalist. Libertarian. Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks. Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences including his own, Anarchapulco, as well as regularly in the media including CNBC, CNN and Fox Business.