Good day Steemian welcome to today's Steem price update for 17/5/2019 I have been posting the Steem price update since almost the very beginning of Steemit.com many have came here to discuss the daily Steem price's and changes for just over 2 years now.
I also want to mention just incase your wondering when perhaps something doesn't seem normal from the other regular Price update posts that the daily Steem price posts do occasionally change it's format from time to time.
But regardless of changes we will carry on as usual and by this I mean knowing the price of Steem as it's important for your daily plan or strategy and honestly even if you are not planing to do anything with your Steem I still recommend checking out these updates and keeping an eye on the price, so without further ado lets take a look at today's Daily Steem Price Change for 17/5/2019
Should you be trading with Steem today...?
Guys almost reaching a Rep of 67.. finally! Lol any stronger upvotes is appreciated to get us there. March 10th Steem reached it's highest for the year at $0.55 along with SBD's which also had a breaker in the same month of March but on the 13th with it's highest being $1.41. With Bitcoins they have recently been holding above the $6000 mark, the highest for Bitcoins near the latest upwave which was beat yesterday was at $8340. It started with that crazy upwave going from $5290 to $5778 with the following day reaching $5793. It slowed down abit but Bitcoins continued upwards from $5732 to $5937. Bitcoins dropped to $5724 but quickly recovered and went on to $6071. The next day there was two upwaves taking Bitcoins to $6417 it lowered to $6263 but almost reached the $7000 mark with $6986. It looked like things may have calmed down but Bitcoin's still broke record again going to $7553! The mayhem continued with Bitcoins upwaving to $7908 and then to $8297! They still managed to break record yesterday if you missed it they reached $8340 but they have fallen to around $7940, today we had another large drop even reaching $6950 guess this the pull-back we expected. Steem is trying to stay above $0.35 with it's overall ranking position being at around #60 amongst all other cryptos. As you know we beat the January high marking our highest value at $0.55. These past few days Steem as been presenting themselves with various opportunities to buy-in but Steem as been going up slightly closing the gap now Bitcoins as started falling the pull-back might give us some more great opportunities to buy into Steem. Yesterday Steem started at $0.38 today was the same until ⏰01.10 going to $0.39 which made highest for the day. After Steem fell which was seen coming due to Bitcoins falling yesterday Steem slowly made it's way at ⏰04.10 to $0.33. Steem managed to get out of the $0.33 pit to $0.34 which is where it remained most of the time bouncing from $0.35 it did fall to $0.33 again twice and again now. Anyway if nothing much will happen for Steem in 2019 which is slowly looking more doubtful then I hope those who are still in the game will take the opportunity to keep collecting because right now we are in a seriously good place to grow our accounts remember as the price goes up higher collecting actual Steem becomes more difficult. But Steem is doing so much better than what many realise, in BTC value Steem made its way to a possible new all-time low but if you look back and have been here as long as me the lowest Steem has ever been was at $5800 BTC which was way back in March 2017 if you look now BTC was somewhere around the $6250 mark.. and so last time at $5800 BTC Steem was worth $0.07 but look now around $6250 BTC it's still worth about $0.34! As for the SPUD initiative.. no not potatoes but (Steem Power Up Day) there was around 980 accounts who powered up adding a total of 145,430 Steem, compared this to the average power up per-day of 106,300 Steem, this means some of you are now new dolphins in town, so with myself included in the dolphin count we have a total of 2000 dolphins!! Also things are going just as I thought they would as whales used to own about %86 of all shares on the system and while today would you believe that they only own %55! This may seem like horrid news but it really is not! Because if we look at Dolphins we owned only %4 just over 2 years ago and now we own %13. Anyway no longer in survival mode the conclusion from all this is to continue cutting costs Hivemind is live the "steemd" instance size's went from 488GB RAM to 61GB RAM! Focus is on a multi index RocksDB adapter which is a new technology to allow the Steem blockchain nodes to store almost all of it's necessary data to a disk in a modern database instead of RAM the move will make nodes cheaper. Ned said that the cost reduction progress will still remain above the creation of SMT's which I feel was the right move. If you have returned recently to Steemit please be aware that there as been a wallet split to your account so please have your keys backed-up, yes ALL of them and don't use your masterkey to log into Steemit.com instead use your posting key, remember that when you click on your wallet you will be directed to a completely different website which should be "steemitwallet.com" please don't worry as this website is safe and part of Steemit.com. For SBD's they broke record March 13th reaching $1.41. Currently SBD's are at a "average" pegged rate, which as shifted finally but lets hope it will hold as unfortunately it was only 4 days where SBD's were not too far from reaching the $0.90 mark but considering how much Steem had dropped the results were not too bad. We must remember as SBD's were in at the low $0.60s during December and it was not much better in Jan jumping between $0.70 and $0.80. Anyway SBD's started yesterday at $1.05 and so it's disappointing to see they didn't spent most of the day above the 1.00 mark, yet we started as I had hoped, with SBD's at $1.02 and so with two upbumps SBD's went from $1.04 to $1.11 at ⏰01.40 which was nice to see. But as expected it started dropping and fell to $0.96 at ⏰04.10 from there it bounced between to $1.00 but was slowly settling to $0.96 which is where we are at the moment.
Always do your own due diligence the above is only a opinion.
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