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RE: Oversold Extremes
Buyers are currently getting in at fantastic prices. That being said, they are having to be very patient since there is extremely light volume. Hopefully it's the selfish discontented whale who is selling to the smart money that is buying.
BTW, the best source for the basic data is here: https://steemd.com/ By my calculations, there is around 188,000,000.00 STEEM powered up, almost 75% of circulating supply.
Hi @cryptographic thanks for the follow up! So, this means that the price of Steem can only drop down to 75 cents in a big dip. The time for recovery should be faster, than the 3 months it takes for the other volume to power down, if the worst case scenario happens (that we know it will not, at least should not, for all the good things that are going on for the steem blockchain).
Regards, @gold84