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RE: Why are the value of votes going down this past month? [A Reader Asks]
People are selling STEEM which makes the price of STEEM fall
It's just referring to simple supply and demand.
If everyone is selling, then there is more supply than demand so the price will fall. If everyone is buying, then there is more demand than supply so the price will rise.
At the moment because the price is falling so hard and people are panicking, we're seeing more people dump their Steem on the market and just increasing the supply with nobody there wanting to buy it until it bottoms.
Yeah, I'm one of them people waiting for it to bottom.