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RE: STEEM/BTC Fundamental Analysis #1: Why is the price tanking?
I agree with most of your article. Only one thing I have w question about. If people are selling off their steem, why doesn't it raise the price? In theory there would be less steem with same amount of demand, so shouldn't it be worth more?
Steem cannot be destroyed, only transferred. I suppose the question you want to ask is, what happens when sellers get exhausted (there are no more people willing to sell)? Thats when TA kicks in, we are looking for a trend reversal in that case.
So the trend reversal in this case would drive up the price correct?
Yes.