If you are paying attention to the overall Markets Bitcoin is slowly chugging up and it seems the worst of the bear markets are over.
In typical crypto fashion, everyone is expecting Bitcoin to soar. While it might, I don't think it will move as quickly as it did in 2017, for one thing, there are not 5 Hardforks with chain splits coming up to fuel the rush with free money.
My prediction is we will see many jumping out of ALTs into BTC and for they will take a hit and Steem is likely to see some of that as well. However many of our investors will not because they can't or will not walk away from the inflation and delegation/vote selling. While some will chase BTC others will hunker down because this is not a bad game for the investors.
I feel a bit of the FOMO too, but not because I expect a quick return to ATHs (All time highs) but because I want Steem to get ready for a warmer market again.
Many fear being Myspace, but some made a lot of money in Myspace.
Also, myspace is still active. Although everyone loves to talk about its failure... In fact, Myspace was still boasting 15 million monthly active visitors as of 2017. I hope we get close to being Myspace! ;)
A few reminders, the development work for the DAO is complete and SteemIt Inc and Blocktrades will soon be scheduling a hardfork to drop it. This will be a tool to vote on and fund development projects with community input. Also, the elections for the Steem Alliiance Foundation close tomorrow. Another community-driven fund which can be used to fund development or maybe even marketing projects.
Like many others, I get frustrated with our slow-moving decentralized project, but I do not fear huge losses because there are too many people that are too invested in time, money and projects who can not carelessly exit.
During the Bear Market we lost many weak hands, during the early stages of the Bulls I expect to see some leave to chase projects that seem to have momentum. I hope that we will see slow steady growth and the remaining investors make real efforts to build something sustainable.
I'm bracing myself for some bumpy roads ahead though...
What are your predictions?