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RE: Steem Price Technical Analysis - Steem Continues to Fall, How Low will it Go?
It is possible that you missed it, but the price is falling because dev team is pushing it downward, to distribute SP. They are actually losing money doing so:
https://steemit.com/steemit/@magnebit/steem-price-is-being-pushed-down-by-1-person-speculation-on-why-and-where-it-may-end-up
Especially the comments.
Thanks for commenting. I trade price only and I am not a fundamental trader. That being said, yes I read that article.
I have been in the crypto space for quite some time and so am very weary of any platform or new crypto currency. The only crypto currency I truly have faith in is Bitcoin (no offense to steemit). I have no response about that article because I dont have enough info to comment but thinking they are pushing price down to sdistribute to others as
Some alturistic deed seems a little far fetched to me. But who knows.
Well, it was outlined in the previous posts by @dantheman and all. They are also getting fiat/btc to pay for developmet and stuff like that. Thing is to see the price fluctuations it is probably a good idea to monitor the power down by @steemit, and the trades. The rally would likely happen soon after it stops powering down.
True. Monitoring the @steemit power down could be wise, it makes sense that they are powering down for development too. Thanks for pointing that out @xanoxt.