RE: Steem at $6, it's time to celebrate! What is next?
Good catch. Yeah. I was just thinking yesterday when I saw the Steem price start going up, that this uptrend creates the virtuous crypto hype cycle. Meaning, Steem as a currency is likely now fully considered to be in the long-term crypto bull market. By December 2019, I could see $100 for Steem price. I could not imagine that price a few months ago when all of crypto under 200 bil market cap. Now that I see the valuation of other projects, Steem at $100 is doable.
Steem is nice because there is a business enterprise associated with it. If that enterprise wants to increase revenue, it needs to see a higher Steem price. Few projects have this business motivation associated with it from a dedicated corporation. It's a nice driver for innovation and @ned seems to be a smart guy by essentially borrowing the BANCOR innovation of smart tokens and throwing it into Steem. This is a solid strategy to borrow innovation.
I agree and appreciate @ned 's strategy here. If SMTs prove to be the success I think they will, $100 STEEM seems more than easy. We need that demand to start picking up in a big way for the SMTs and for those ICOs to prefer to use the STEEM token.