Slowdown in depreciation of STEEM against BTC is expected

in #steemlast year

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One of the selling pressures on STEEM is temporarily paused. Unfortunately I think its not possible to quantify the effect of this 1 month experiment, but at least in principle, it should slow down the depreciation of STEEM.

For the time being, this leaves us with with just two natural sellers:

  • beneficiaries of STEEM inflation (witnesses and the rewards pool recipients)
  • random token holders churning out due to the continued altcoin bear market

Can the believers and speculators absorb the selling, and perhaps reverse the price trend?

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In the meanwhile, $STEEM going for new low.