RE: Steem Price is being pushed down by 1 person! Speculation on why and where it may end up
Your post probably caused the removal of that low 100,000 steem sell order. Good job!
Yes, I have seen that account force the price down multiple times too. If you look in your market price image, they chose to push the price down to .96 instead of selling at 1.02. This is a $6000 difference. The actual sell order was placed below that at .95 and was for 50,000, it was slowly bought up overnight. So they threw away at least $3000 on that trade, and could have added .10/on that with no change in sales.
I have seen that account do the same thing for the last 3 weeks at each big price dump, they pick a price .10 to .20 cents lower than market rate and dump 10-20,000. This lowers the prices on the 3 exchanges until the big sell is eaten away. It seems like throwing money away on purpose, when each time the dumper could take an easy .05 -.10 per steem without losing a single sale.
If that wasn't an official account I would swear they are driving the price down on purpose. I would like to hear an explanation for it too, because it has driven the price under a dollar and drawn an awful stock history graph that does not inspire confidence.
I don't think they are driving the price down "on purpose". They are selling STEEM as always stated they would (both in order to raise funds for development and to redistribute stake to buyers), and in order to actually sell you have to offer at a realistic price where market participants will actually buy it. Offering well above market accomplishes nothing except putting a big wall up "for show".
Did you type that with a straight face?
Look at the order book, they were only 50 shares away from 1.12 and .17 cents more profit on 50,000 shares. The 3 big orders are all steemit sells, and they purposely chose .95, instead of 1.12, wasting $8500 and forcing the price down in the process. This is not profit seeking behavior. If you are right and it wasn't "on purpose", then it should be noted that whoever is controlling that account is wasting thousands of dollars.
These big market actions send messages to investors, just like when a CEO sells stock in the company he is running... When people see an attempted $150,000 dump by the CEO or owners during a 50% drop in price, it does not inspire confidence and makes the situation worse.
Your argument is that someone is going to just show up and pay 1.12 for an asset that was trading below 0.95, as a gift so that steemit can make an extra 0.17? I don't buy it. I saw the walls, which were sitting there for quite a while (hours and hours). That observation alone means they were priced above the current (real) market price, not below it.
You are obviously just going to defend anything that account does, be it manipulative or stupidly wasteful. Have fun with that.