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RE: Summarized Explanation for the Falling Price of Steem
There are so MANY factors now that dictate the Steem price that its a toughie to unravel, but your attempt is one of the best so far ;)
There are so MANY factors now that dictate the Steem price that its a toughie to unravel, but your attempt is one of the best so far ;)
If we are talking about a fiat currency, used by billions of businesses around the world, then I would agree. Since we are talking about Steem and there are only a couple of services accepting it (and none at all as influential as Steemit is), then we can reduce the list to the most obvious ones, which I've done in my article.
If I'm missing anything important, please do correct me, I will be glad to introduce it in my expectations for the future of Steem and - for the lack of anyone else using Steem at the moment - the future of Steemit.
I find the Steem price and volume relationship is quite a complex one - trying to work that out is to look into the soul of Steemit itself.
There are many factors to consider indeed, but take a look at @remlaps's comment below, as well as my reply.