@cryptographic this is buy time for steem! Crazy to see steem went to $2 again, and if we think about it now almost 3, its 3 times compared to how it was in average 1 for almost 2 years, so people need to know this and post according to this.
If you think steem was at $6 2 or 3 weeks ago, and now it pays half, I would not see it that way. Lets think when steem was 1 for around 2 hours since it started.
We are on incredible times, and once we reach the floor at $6 it will be crazy, then $10 , then $17 , then 30 and so on.
People that have passed through all the steps and all phases of steem, and that know all the plans for it, and all the developments that will happen, would never sell.
I thought most of the steem funds around 70% were powered up, but it seems just 50% or less, because steem was at 1 billion about 2 or 3 weeks ago, and know around the 500 million in marketcap. So there is a limit there, is there a way to check the amount of steem that is already powered up?
If that is the case, if we see 400 million or so powered up, its very difficult that it can get lower than 1.80 or $2 USD per steem. It would take weeks, and I believe the ones that powered up and see the real power of this investment would not let it go!
Thanks for your analysis!
Regards, @gold84
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