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RE: steem price getting down from the first to appear in poloniex until August 26
What are the underlying reasons of the decline? Just major correction? or is there more? Anyone knows?
What are the underlying reasons of the decline? Just major correction? or is there more? Anyone knows?
Way more supply than demand. "The whales" keep dumping it onto the market (ie, selling it, cashing out) faster than people are buying it so the price goes down. People complain about that, but not me I don't blame them at all. The thing is, Steemit is still way under 100,000 users. Add a few million more or so and that won't be such a factor. If you are reading this now, you are metaphorically in the position of hearing about AND being able to buy into both Bitcoin and Facebook before anybody ever heard about them - while they were still "in Beta"... I'm not a financial advisor and do your own research, but anyone that has just $5-$100 to spare would do well to "Buy this lottery ticket" if you get my drift.