It's going down due to phishing attacks, DDOS attacks, and a platform that was almost unusable for a week. I really steem and steemit are different, but at this point as far as I'm concerned they are one in the same.
Also, why would you hold steem right now when BTC is gaining 5% a day?
Wait until steemit starts showing some strength again then buy. Don't try and catch a falling knife.
Sorry, but I basically disagree with everything you said here.
I don't think phishing and DDOS attacks are the reason for STEEM going down.
BTC will not continue to gain 5% a day.
If you wait for STEEM to show some strength to buy, you already missed 50% of your profits. If you don't believe in STEEM 100% don't buy it at all.
I don't wanna "correct" you, I just have a completely different opinion about this.
Large operators have 80% of the supply and play small investors like a fiddle. Consider it a gift when they manipulate the price for you to get cheap steem.
Just watched the dollarvigilante and he made great points at steemfest.
He's suprised it's not growing more, but realizes until
Steem's going to sit like a rock until those changes are made or BTC cools off. Why invest in a coin that drops every day when BTC is gaining 5% on a daily basis and BTC has it seems weekly news that keeps the money flowing in.
Steem does have potential, but I see no point in investing in it now. From watching the steemfest stream everything is happening next year. What's going to happen this year to make the price of steem increase?
Price and features are not correlated. In July 2016 we saw a $5 steem and last winter (with better features) we saw a $0.10 steem.
The trading game is made by large holders (2 to 5 people owns 80% of the steem on exchanges). They makes money by depressing the price by flooding the market and then buy low when everybody thinks it's the end of the world.
What you have to do is buy the rumor and sell the news. Because that's exactly what they do.
The end of the current campaign to depress the price will come right before a major run up where they will sell to gullible new investors when the price spike.
Rinse and repeat.
Wow, exactly my thoughts. There are only 92 STEEM account holding more than 200,000 STEEM. They hold like 70% of all STEEM that is currently in STEEM accounts. It's basically a monopoly. They can change the price at will.
This means that when they are ready to buy, we will see a huge spike in price, which is when they will start to sell again for profit. lol
O cool I'll have to try this strategy.