Hey guys today i want to discuss factors of how to increase price of cryptocurrency, we all are here on steemit and interested in price increase , because 0.27 is kinda low, but what to do to increase this price in 2019?
In 2017-2018 all was quite easy because first was factor of news , we could just announce something like new technology and just announce new roadmap and price will increase, but now its almost not working , at least words without action like it worked before.
Second factor of price increase is Bitcoin , if bitcoin goes up - then all cryptocurrencies go up, so its kinda simple - just wait until bitcoin goes up again and ride that wave, but the problem if red market continue then you need to rise value against the price of bitcoin not against the usd.
So this factor is kinda you cant control it and predict so its like don't consider it.
Next factor is main factor in 2019 is trading in exchanges. Volume and amount of exchanges mean a lot, so in this factor we can actually work more and be in more exchanges and trade there, plus we need some contests for this.
For example 10000 steem contest for top traders of steem in exchanges, its important because with big volume of trading more people will look into steem and see it as good investment opportunity.
Right now steem got 50+ place in coinmarketcap ( so people dont see steem its too far in bottom) and its not increasing and because of it we got very low volume of trading.
So what to do to increase volume of trading and price in coinmarketcap?
- Stop using blocktrades for buy/sell cryptocurrencies ( im using it myself because its easier, but try to use more exchanges , because blocktrades NOT TRACKING in coinmarketcap and its useless in terms of volume for steem price increase.
- Start to sell and buy more often in exchanges , for examples: you got 100$ and price now is 0.27$ just buy steem, you see its 0.28$ sell, with this you will increase value of steem because volume is increasing.
- We need more exchanges so more people will be able to trade steem . Here is quite simple we need people to find more exchanges and information how to add steem there, because usually its just voting and steem community is kinda big, we already won some voting contests! Its needed to be regular so value of steem will increase.
- We need contests for steem trading, for example i saw @berniesanders gave 2500 steem for steemmonsters tournament, its increased interest into steemmonsters and now many people participating in tournaments.
We need same for trading steem, because TRADING steem on EXCHANGES increase price of it, the more volume is better, so i hope who got some ideas how to make it happens will take action!
What you think about steem price? will you work on steem price or you will just keep going like before?