STEEM could drop to 2 cents Tomorrow.
Feb 21st 2017. The great STEEM dump?
900 thousand STEEM. Just under 1 million STEEM are to be powered down tomorrow. If all that is market sold it would drive the STEEM/BTC price to nearly .00002 if huge buys currently not on the order book do not absorb it. This is from a quick look at the polo market depth so there could be a buy wall I am missing but all I see is a few 100k STEEM buys and a lot of room to fall. The very next day another 300 thousand STEEM is set to be powered down. I dropped my buy order from 7 cents to 2 cents just in-case.
NOT FINANCIAL ADVICE
Source of powerdown stats
Yey, free steem!
lol, positive attitude about it.
You have to look at the fundamentals. The value of steem is essentially reflective of the value of steemit as it is the blood in the system if you like. The value of steem has dropped due to the non-decentralisation which is contrary to what the blockchain is all about.
Over 80% ownership of a currency by less than 100 people is hardly going to add confidence. It is those very same people who have presided over non-decentralisation. They have been self-defeating, as I have said many a time.
There is more to this than meets the eye, though.
Steemit is NOT at risk. The balance of power is safe through the steemit account. Watch the processes!!
m8 wot
I have been tracking all the goings on and made my own valuation based upon the models one has to use - I stand by those.
I am not sure what you are looking for otherwise.
I see you are powering down. If you like I can show you the numbers - it is not pretty but there is no reason to panic! This has been a long time coming. What does a reversal in steem value require is the salient question.
A dip to 2 cents could help encourage cheap buys.
I believe that the opportunists will step in higher than that - anything below 5, though I saw the value being at 4, although I am much more positive with the consensus of whales coming through. You might be able to do a sell and re-buy but it is a risky move - there are buyers out there, though they are having fun watching right now.
I just look at the sp part of my account. If I was not in the position I am (owed a shitload), I would be waiting, waiting, and then buying at the first proper sign of resistance.
@ebryans. I agree with you. Personally I concerned to improve my writing ability rather to pay attention on steem price. If I always write something good for other person, someday good karma will come to me !
This would be nice;)
what :-(??
It's a perfect opportunity to buy some cheap steem
It's been a perfect opportunity to buy cheap Steem f0r quite some time now but .02cents would be even better! I am a believer of Steemit and STEEM and know where it once was. When you hit rock bottom there is only one way to go & that's UP ;)
Boom! I am giddy with anticipation.
or to waste all money in one cheap rush lol - no idea - am an amateur in that area - only hope we will still maintain our lovely steemit for a while - otherwise my work would be so boring with steemit
Considering ~6,880,297 STEEM have already been powered down in the last week, and only 3MM steem scheduled to powerdown in this next week, I don't think it is going to drop like you predict. Will it go down further, yes. Below 0.10, probably, but I doubt below 8 even. Its only dropped 3 cents with twice the power downs in the last week, so unlikely. However, as you say, if it were all down at once on the market it would, but anyone with any sense would not sell their steem that way, as they would waste it all.
If STEEM goes under 10 cents what do you think people will do with the liquid STEEM they have?
Uneducated investors will PANIC! lol We call them Panic Sellers 0r non-believers ;)
True enough, its happened to other coins, it could happen here. But like you said, could be a chance to buy cheap as well.
When there is Blood in the Streets it is time to buy. I just keep writing, promoting and talking about Steemit to everyone I meet. Don't worry about the FUD. This is when the game is going to get really interesting. My turnaround time of May to June remains solid.
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so you predict the end of steem and the infrastructure is coming already tomorrow eventually @matrixdweller ?
would be a disaster!
maybe - maybe not - at least i did only invest time if that should be the case