From March until now, the price of STEEM to Bitcoin has risen more than 1500%! This is incredible growth for STEEM, and it doesn't look as if it's stopping any time soon.

The rise of STEEM

The above screenshot shows the price of STEEM in Bitcoin, from the beginning of this year. So far, we are up somewhere in the region of 1500%.

Looking closer, we see that this month too, STEEM has been rallying nicely. The screenshot below shows the price of STEEM in Bitcoin since the beginning of July until now.

Above: The price action this month.

Some of the reasons for the growth of STEEM and the Steem Backed Dollar, are that the platform is growing and gaining lots of new users, more per day than ever before.

Also, more and more people are investing their Bitcoin into STEEM power, and this also pushes up the price, and the value of STEEM and the platform overall.

What the future holds

Using technical analysis, I charted a precision of the price of SBD in Bitcoin. In my opinion, we could go up a very very long way from here - at least 90%. Take a look.

To view this prediction in full, and watch how it plays out, go here: https://www.tradingview.com/chart/IZpm4oUW/

As you can see above, we are at all time lows in terms of the price of the Steem Backed Dollar (SBD). From here, we could see a re-accumulation, where people begin to stock up, and supply becomes less available.

Hopefully, this combined with the influx of new users and new money coming to Steemit, should send the price of both STEEM and SBD to the moon.

Conclusion

Hold your STEEM and SBD. It may be tempting to cash out, and if you really have to then do it, however, the longer you hold your STEEM and Steem Dollars, the more they will be worth in the future. The platform is growing, and I'm sure it will be one of the big players in cryptocurrency and social media going forward.

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