price of STEEM
Why has the price of STEEM been so low? And, it keeps sliding. If whatever is driving the price low continues its trend we should see the price hitting 12000 satoshis very soon, perhaps even today.
What are your thoughts?
Why has the price of STEEM been so low? And, it keeps sliding. If whatever is driving the price low continues its trend we should see the price hitting 12000 satoshis very soon, perhaps even today.
What are your thoughts?
It's a buyers market. There is no reason to buy at today's "high price" when in all likelihood there'll be an abundance of sellers next week willing to give up their Steem for less.
I dare say, there are probably Steem enthusiasts shorting now with a view to buying back cheaper.
Things may stabilise (or turn) in the next month or two when the first batch of "13 Week Power Down sellers" run out of Steem (pun intended).
Crypto markets are predictably fickle... most don't want to buy unless a coin is being pumped... then they complain when they are dumped on!
Most crypto pumps are orchestrated by BTC whales that have accumulated the majority of coins during a bear market. Those whales could be put off by the amount of Powered Up Steem they may need to absorb in a bull-run. There are easier pump and dump targets than Steem...
On the flip side, Steem is a fascinating, innovative experiment that has made decent inroads in on boarding the "ordinary user." Given the right marketing and investment it could easily be one of the leading cryptos. The technology and community is first class.
Wow! Thank you for taking the time to write all that. Very informative.
I wouldn't count on that happening. After this month, the Steemit, Inc. team will no longer be bound by their word to not power down and sell their stake. They are, by a large proportion, the largest group of stakeholders on the platform.
Not saying that they will sell - only that they will certainly not be prevented any longer from powering down and doing so. I wouldn't be surprised if they do it.
Sure, it certainly wouldn't be unreasonable to expect them to sell some of their stake in the coming months. I don't expect a complete sell off but who knows...
Them selling would simply mean a prolonged buyers market and dirt cheap Steem. Someone will pick them coins up for sure. I certainly have BTC ready to scoop up some more should certain thresholds be breached. The tech alone is too strong for Steem to fall completely off the map anytime soon.
I know Steemit is the buzz at the moment however I believe payment processing apps that leverage Steem's zero transaction fees and two second block times could be the secret sauce that makes the coin take off. Particularly if it is seemlessly baked into a social media platform(s). That's just one use case.
Steem has a great story to tell beyond Steemit; which is a good story in itself. People in Crypto tend to buy into coins with great stories only when they are being pumped. They forget the 'story' and fundamentals are still there in the bear market, and miss out on the real opportunities to profit. Not that I'm advising people to buy. You need to have a high risk tolerance to put significant funds into any crypto. However I'd caution against over-pessimism simply because the price is being suppressed over a prolonged period.
This is very interesting. I guess it's either a gambler's market or a believer's faith. Considering everything, I don't think STEEM will lose steam. Not sure how long it would take for it to become something, though.
Who is Steemit, Inc.? Who makes up the team?
So, if I got this right, very shortly they would be able to sell their STEEM?
Who bound them in the first place not to sell?
Co-founders are @ned and @dantheman, and there is a team of around 10 devs now. They bound themselves not to sell when the big change in the economics of the platform was implemented with Hardfork 16, in December last year. The most important change at that time was shortening the power down period from 104 weekly payments to just 13. You can find more info in the roadmap (which is a must have reading if you plan to invest here, either time or money).
Don't worry. People like @berniesanders still power down on weekly basis:
http://steemwhales.com/berniesanders?weekly
He sells STEEM worth ~$28,000 every week.
The good thing is... that those people (which started power down more or less on 6th December (after hardfork16 changed period of powerdown from 104 weeks to 13 weeks), they will end really soon.. because they will sell everything. In case of @berniesanders, he will have only 4 powerdowns before his account will be empty.
From the other side... there are people like on this list which buys this cheap Steem.
So... right now Steem goes from weaker hand to stronger hands :)
Thank you for the insight. It does make sense what you are saying.
IMO whales are powering down. Steem is being dumped by them
Looks like it, otherwise what else could it be?
They say the power-downs are not yet done and bitcoin price is falling.
Oh ok, I see. So, you are saying those who have powered-down a while ago are cashing in? The part about BTC, I did not understand. I thought BTC was doing good, no?
To much liquid Steem on the market, whales still dumping and btcoin:
https://qz.com/881373/bitcoin-btc-price-crashed-because-of-notices-issued-by-the-peoples-bank-of-china/.
What does that mean, "liquid"?
http://www.investopedia.com/ask/answers/032715/what-items-are-considered-liquid-assets.asp
I see. So, when people powerdown, they have liquid STEEM. Gotcha. Thank you.
It's neither high nor low, it's just the market price, the pendulum swings
Kindly elaborate. So, it does not matter whether the price is low or high? So, what do you think are the limits of the pendulum? Would you say it's between 12000 and 16000 satoshis? If not, where do you think it is?
Buy low, sell high
Distinctive action plan
;)
:)
I think that the reason for the decline of the large number of sales here STEEM + also the high price bitcoin
How would the high price of BTC affect the sales of STEEM?
Hello my brother @tamim . I think that many will make the sale of STEEM Prices Less + BTC prices on the $ 1,000 barrier this is just only believe, and I like that I talk with you in it ( I apologize for my English is not enough)