Below is a weekly log chart of steemit priced in bitcoin since it started to publicly trade in April 2016:

![](https://steemitimages.com/DQmTvX9ykYH6TqvxW3LRCdumVx9pzwrUVizaqoV6efqY16k/image.png)

Here is a linear version of the chart:

![](https://steemitimages.com/DQmbP89fuYV4mdAuYtgqChVMDXTED48RTqJpGnRoP2VbhiF/image.png)

Notice how the linear version looks "compressed". This is due to the dramatic price moves in steemit. Indeed, it lost 99% of its value from peak to trough in USD and 97% in bitcoin from its peak July 2016 to its low in March 2017. 

But there are key signs as shown in the log chart that steemit is alive and well and thriving. Notice how the linear chart, by contrast, shows steemit still "dead in the water", a clearly distorted view of steemit since the y-axis is linear, not logarithmic. 

Traders should always use log charts instead of linear when dealing with cryptocurrencies since most have massive price moves compared to stocks.

Most recently, steemit is breaking through its downward sloping trendline as shown in the daily log chart below:

![](https://steemitimages.com/DQmWxQknbKvVrjuyyFs2ZhKSe9V7AdeuWH8wSGcKCnEfYTP/image.png)

This is on news that steemit is launching Smart Media Tokens, a mcuh anticipated addition posted beautifully by @the-alien and an animated explanation by @dougcarr:
https://steemit.com/smt/@the-alien/smart-media-tokens-introducing-the-game-changer
https://steemit.com/smt/@dougkarr/how-smart-media-tokens-work-an-animated-explanation

So despite the steemit FUDers out there who only look to the linear chart of steemit to declare its demise, they are allowing the distortions of the linear chart to bias their views. They will likely be left behind compared to the HODLers who will be handsomely rewarded. 

As a technofundamentalist in stocks and having made 6 years in a row of triple digit percentage gains during the dot-com boom, fundamentals get me interested in a company, and technicals (chart patterns) fine-tune my entry, pyramid, and exit points.

The cryptospace is valued at roughly $130 billion at the time of this writing. There is no doubt it will be in the trillions within the next 1-2 years. And my guess is steemit will be one of the cryptowhales with a valuation in the billions. It is currently valued at $326 million, giving it a rank of 17 out of 871 on coinmarketcap.com. The genie is out of the bottle. Even the U.S. government is embracing blockchain technology: https://www.coindesk.com/trump-white-house-doubles-us-commitment-blockchain/

Image credits: http://bittrex.com

#### About Dr. Chris Kacher
Dr. Chris Kacher has appeared on major television, radio, and print programs and is the bestselling author of "How We Made 18,000% in the Stock Market". He founded Creative Trading Ltd, a company aimed at helping others invest in cryptocurrencies. He is currently launching a pro bono cryptocurrency platform and has been an investor in various cryptocurrencies starting in 2013 including STEEMIT when it was founded in 2016. He is the co-founder of http://www.virtueofselfishinvesting.com and has co-authored several books in investments as well as over 100 scientific journal articles in the nuclear sciences. He helped to discover element 110 on the Periodic Table of Elements as well as confirm the discovery of element 106 which his team named Seaborgium after his UC Berkeley Ph.D. thesis advisor Professor Glenn Seaborg. His music has also charted on the iTunes music charts twice.
http://en.wikipedia.org/wiki/Chris_Kacher