Today being Labor Day - the unofficial end of summer in the United States, I thought I'd look at Steem's historical performance in light of the old trading axiom, "Sell in May and go away". How has Steem performed during the summer months of its history?
Let's take a look. The following table and charts are based on data from Yahoo! Finance.
| Year | June 1 Open | August 31 Close | Summer Change |
|---|---|---|---|
| 2018 | 2.38176 | 0.94985 | Down |
| 2019 | 0.40252 | 0.166318 | Down |
| 2020 | 0.209503 | 0.228726 | Up |
| 2021 | 0.563054 | 0.588153 | Up |
| 2022 | 0.267813 | 0.229373 | Down |
| 2023 | 0.181805 | 0.152875 | Down |
| 2024 | 0.279959 | 0.16183 | Down |
In summary, the summer prices have declined during 5 of 7 years where data is available. Further, in the two summers when prices advanced, they only moved up by small amounts.
In MythBusters lingo, I guess we can say, "Myth confirmed". 😉
Note, however, that these numbers do not include things like interest and curation rewards that result from owning powered-up STEEM.
For the record, I think this sort of data is fun to look at, but I don't think it tells us anything at all about what to expect in the future. This is posted for entertainment purposes, only.
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