You are viewing a single comment's thread from:
RE: What's Up With the STEEM Price? A Theory
For the record, in another recent post, @kewpiedoll reaches the opposite conclusion, expecting STEEM to continue its downtrend.
https://steemit.com/steemit/@kewpiedoll/why-steem-will-probably-continue-to-drop-in-price
I think you're theory focuses on the price of SBD(?). Mine was for STEEM, the coin itself, not Steem Dollars.
In any event, I upvoted your son's Bach inventions post which was fairly fascinating.
Right. STEEM, Steem Power (SP) and Steem Backed Dollars (SBD) are all intertwined. My theory is that while the influx of users increased the demand for STEEM, that upward pressure was counteracted by the new capability to directly liquidate SBD for bitcoins, without using STEEM as an intermediary. Now that SBD appears to have stabilized, I'm guessing that there should be no more downward pressure on STEEM from that direction.
My son thanks you for the upvote!