Steem Price Analysis: Steem’s New Upgrades May Save The Coin From a Downward Trend

Steem has been in the news for its fluctuating behavior since the beginning of the year. Some of the investors believe that the second half of the year may put an end to this fickle trend and rather bring a growth trajectory. The recent announcement of publicly releasing MIRA to increase the scalability of the platform can be regarded as the first step in fulfilling the expectations. The market data currently portrays a decent picture.

We've released #MIRA publicly! Now any node operator can significantly lower the costs of running their node, lowering the barrier to entry, increasing decentralization, and improving @SteemNetwork's scalability: https://t.co/6zONXOfiTp

— steemit (@steemit) May 30, 2019

Steem Price Statistics:

As on June 3, 2019, at 08:14:44 UTC, STEEM coin recorded a Market Cap of over $12 million. Steem is currently ranked at 63^rd position in the global ranking. In the last 3 months, as also depicted in the graph above, the price of the STEEM price has fallen from $0.56 to almost $0.39 as on date. There has been a continuous fall with only a few upward trends in between. In the last 30 days, the coin has shown an upward trend of over 34% by rising up to $0.39 from $0.29 and in between peaking as high as $0.44.

Steem Price Prediction:

Steem has been witnessing mixed reactions from the market. While some believe the currency has a long way to go, others are of the opinion that there is a drastic fall in store for STEEM and it may crumble down very soon. If we go solely by the price trends, there has been a considerable rise in the STEEM value in the last 5 months when the price was around $0.26. The coin value may increase up to $0.9 by the end of 2019.

Steem Coin Conclusion:

STEEM may prove to be a good investment in the long run if the firm can get hold of a strong partner to put an end to the rumors and establish trust among the investors.