Why are steem price still going down?
Seems like it should do the opposite or at least stay the same since everybody is getting on this train.
I'm just curious, what are your thoughts on this?
Seems like it should do the opposite or at least stay the same since everybody is getting on this train.
I'm just curious, what are your thoughts on this?
More people signing up doesn't mean more people buying in. The price will go up when there are more buy orders than sell orders at a given price!
Exactly. More people need to invest in steempower to push the price forward. And currently Poloniex which has the greatest amount of steem volume is not working. So investors are kind of shut down from that end. Maybe when its restored, the price will stabilised much. I
I've been using Bittrex recently. No issues. I wont be using Poloniex again after their recent issues. They are just too risky.
I have been using Bittrex and there are no problems. Just wondering why Poloniex has much more impact than Bittrex. I was looking at Steem Market Volume and Poloniex is first - always, even with issues.
As with all new currencies there's going to be an unbalance of buyers to sellers. It will continue to trend both directions but if it is following the foot steps of other currencies, in the long run, it's going to gradually go up.