I think it's actually HF21 that drove it this low in the first place. The uncertainty of drastically changing our economy likely scared a lot of people out for the short term.
I'd say HF 21/22 has largely been successful so far, and if it continues to be so, along with all the other developments, this very well could be the bottom.
Also our all time low was around 8 cents... and crypto seems to be on these doubling patterns. 16 cents could very well be the absolute bottom for Steem.
Yeah, I too don't see us going back to that 8 cent low. Too many people looking at it, and assuming we're going there.
You're right that many people bailed when they heard the rumours of HF21. I imagine that insiders with massive premined pools are the larger market force though.
A drop to ATL wouldn't shock me, especially with large accounts that refuse to adjust and instead power down.
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If those large (hated) accounts refuse to adjust, and power down, that will make this place so much more attractive to everybody, especially investors!
If it did, I'd sell some BTC and buy some more steem
Bye bye to those who don't want to be here and participate :D