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RE: STEEMIT: At approximately $17mil STEEM is potentially a sitting target.
Lets be realistic here, the Exchange with the Biggest Volume that lets you Trade Steemit is Poloniex. in Poloniex you can NOT SHORT Steem. Steem is almost 1 year old. look at Dash, beening around for 3 years. was in a downtrend for over a year after the "all time high" DUMP from the first BULL Cycle. i will Continue to invest my $$$ monthly as long as i see improvements/upgrades to Steem. which is what they have been doing.
"...in Poloniex you can NOT SHORT Steem." Yes you can. You just keep selling and selling and selling and selling. Its easy to short STEEM. Dont forget this was +$1.60 once and now down to $0.07. That looks pretty much short from where I am sat. Stephen
Selling is NOT Shorting. Steemit price started off around 50cents for public The fact that you buy in at $1.60 is still very HIGH. the DUMP is not over yet, we will see sub 3 cents. right now i am buying in alittle bit each month based on the new updates/roadmap.
Selling is shorting and shorting is selling. They are exactly the same thing when the price is falling. At the moment STEEM is being shorted and my guess is that due to the volume we havn't seen the bottom. If the ones behind it, and there will be more than one, want to take this down they could nail this to the floor at $0.01 if they wanted. It's all about liquidity and which side has the deepest pockets and at the moment the shorters are WINNING..!! Stephen