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RE: STEEM Pricing Moving Up: LEO Providing Outstanding Returns
people try to explain why the price of STEEM collapsed
The main reason why is that whales who received the coin for less than the current price were still looking to take gains even as the market crashed.
Just look at Steemit Inc, they received all their stake for around $0. Luckily, they are doing the work to justify their stake.
When the price reverses it is going to reverse hard.
Everyone wants to power up during the bull run.
That could be true although STEEM dropped in line with most other tokens. 90% down for alt coins is not uncommon.
As for whales selling, I am all for it. People seem to complain about that yet it helps distribution a great deal. People want better distribution and whine about the whales yet get upset when they sell.
It makes no sense.