From my Experience in FOREX Market, i feel that there is a Steem Market manipulation
That's me thinking and analyzing
So i have a theory today about Steemit Market (Buy/Sell - SBD/Steem)
I noticed that somebody on this market is working on purpose to reduce the price of Steem VS SBD.
and that thing has been going on for a while, and repeatedly, i figure it out by the timing of placing orders, and the amounts that are being placed
so they put huge amount in buy orders with separate orders in the SBD with the highest current possible price, and follow it with sequence of less higher price orders.
the second thing he/she/they are doing is the put and order on the Top of the selling orders with lowest price possible
which is resulting of people not buying Offers steem at low price to compete with this offers, and in general price the price of steem goes down.
my huge is that this person have an amount of SBD, and want to transfer it to steem, so instead of direct transfer, they manipulate the price, to get as cheap as possible.
i don't know if there is solution for this, but i just wanted to share this, and the best place to share it is steemit it self.
all i know, that he/she cannot continue doing this, because eventually they will run out of SBD, but the damage is done.
Thanks for reading!!
Please share and upvote if you like my post.
Please fasten your seat belts & prepare for take off!!!
This is off topic, but do you know Miss MJ? She is a YouTube vlogger and you remind me of her. She is flight crew for Emirates. Here is a link to one of her videos, I think you might like it.
that's not a curly hair, lol (Asian cannot have curly hair "unfortunately")
no i don't know her, i actually work for Qatar Airways, so she is in the same type of work but not a colleague
Great fined, thanks for looking out for Steem!
in cases like this you kinda wish that it's not decentralized and you can report it to someone.
but nothing is perfect.
thanks for the comment and upvote, i appreciate it!!
I agree, this has been going on for quite some time here on steemit. It is pretty predictable too. I never traded forex but traded stocks and crypto for quite some time. some one is making themselves a pretty penny by doing it too.
glad i am not the only one who noticed
There is a lot of funny business going on in this platform. Sometimes I am not sure if the whole decentralized idea is a good idea. I started powering down because of this reason.
I am also planning to power down soon if the BS doesn’t stop
Thank you for sharing...will have to make some time to check out this exchange platform...upvoted and sharing.
Nice analysis
Thanks
I hope and think that the markets will restore themselves. If the daily market volume will rise a few times his or her chances are over. A dutch saying is (translated) , who digs a hole for another, falls in themselves. Lets hope so :)
actually, he or she will be lucky if the market goes up, because they already bought a lot of steem, more then 10K.
so if the market went back to 1.25, he or she will be making about $2,000
Thats also a good one. Well if he or she puts the money back into steem hopefully I wouldnt mind
i don't think that is the case, i think they will cash out the profit and keep playing with the original investment.
that's what i would do!
True that. I aint a large holder of cryptos but ive exchanged everything into steem power. Im thinkink of investing in 1 other coin. I was a big fan of verge but im doubting now.
just ride with theme haha
you need to be very rich to do that!!
Interesting analysis. I think this a major problem with cryptos in general nowadays. Thank you for sharing. @originalworks
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in steemit, it's not a big deal, trading volume is not so big,
i think someone with a sufficient amount of money, can stop such manipulation very easily.
This kinda thing is bad for creative content creators such as myself. I havd very little understanding of the financial side of this stuff. I just came here to make great content. But obviously this upvote/coin system was part of the attraction. :(