Many people are speculating that the price may "fall" as 2.5% of Steem (over $500,000 of Steem Dollars) is made liquid. I would like to offer some additional perspective:
- The Supply of Steem Dollars is limited and they pay 10% interest.
- You will get more for your money by selling Steem Dollars for BTC than by Converting to STEEM and selling STEEM.
- A large percent of Steem Dollars are being earned by Steem Bulls
My conclusion from this is that the July 4th date will do little. A week later some Steem may enter the market from people powering down, but that will amount to less than $10,000 per week even if all Steem Power was powered down. Those who want to sell Steem will find they can get the most liquidity by selling for Steem Dollars and then selling Steem Dollars for BTC.
In effect, I see the July 4th date as being relatively smooth in the markets (aside from purely speculative moves).