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RE: $STEEM/BTC Daily Poloniex+Bittrex Technical Analysis Update #27 "welcome back to the twilight zone" Aug 26, 2016
Seems to me this correction to some sort of reality based level of what blogging is worth HAD to happen. Once that price level is discovered, and if people are still Steeming , then a sustainable Steemit ecosystem can and will evolve.
And dont forget...many whales are cashing out and paying for new things to be built for steem :)