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RE: We're heading back towards payouts being in STEEM and SP - And the 10% Debt Ratio Looms Large!
Hopefully this latest price drop is just a bit of panic induced from the BCH fork (and threats) because we really do need a bounce.
STEEM continues to have some big problems though. We are losing ground on other cryptos even when they are also selling off. Down to rank 42 now.
I did make the warning but even I didn't think it would happen this quickly. The purge is currently going "next level" with the notorious freedom account now doing some massive conversions.
This is the biggest I've seen so far :-
Hopefully it is just a short panic period over the BCH business. The sharp price drop has definitely sped things up.
That's a big conversion there. We may see a lot more of that if things keep moving the way they are...
I don't think the downside is over. Since BTC broke some major support levels there's a good chance it will drop into the 4000s (and maybe lower) before the next bull market, and this could play out over months not days. Just my 2c.