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RE: STEEMZINE #22 - STEEM Where Is The Floor? The Fate of Steemit Is On The Line
@steemzine, great post. Been pondering this of late. The bottom line is we have a small pool of people actually buying steem with $$$ compared to the giant pool of contributors that are cashing out in order to be "paid" for their work.
The supply/demand is so far out of whack a catalyst needs to come along to swing the pendulum.
Not sure what that can be. Maybe steemit needs ads on the sidebars to generate revenue into steem.
Either way, the daily chart of steem/btc is in a pattern of perpetual bear flags and next target looks like .001
@scaredycatguide spot on. I think you are right with your target prediction.
Alternative ways to earn steem would also be ideal. There are so many ways this could work. But, still if people aren't buying and only selling. There is an issue.
So what exactly is it going to take to make people to want to buy Steem....I think thats the question that needs to be answered, where is the value in buying?