What Was The Reason Of The Steem Price Fall?
What Was The Reason Of The Steem Price Fall?
In last days, the Steem price fell to a level not seen since January. Most price movements have various reasons, but which ones are the most important in this case? Your opinion? Your sentiment? What was or were the reason(s) for the price dip?
(Picture: Own work)
- Steemit Inc. selling again
- All cryptos falling again
- Steem is very inflationary
- Steem-Engine tokens are very inflationary
- Some Steemians panicking before Hard Fork 21
- Witnesses paying bills
- Competition on other platforms (EOS?)
- Whales powering down
- The Jupiter-Uranus & Saturn-Neptune Synodic Cycles
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And having the reward pool drained by shitposters and self voters.
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It's probably all of the above, especially the last one. :)
It's certainly going to be a combination of things, if the accounts on Steemit have any major say in what happens with the market, including Steemit Inc. I say that, because there's got to be money just floating on exchanges that we don't really know about that is larger than what we can see here that keeps pumping and dumping, in addition to whatever Steemit Inc might be doing. The other whales aren't really that large to do much damage on their own, and quite a few of them started powering down quite a while ago.
In stock markets, if a mayor shareholder or the company itself sells or buys, extraordinary advice must be published. To protect the small investors, to provide them with all relevant information large shareholders also have. Here, not. Some regulations surely should be applied in cryptospace...
I don't know if I look forward to regulation or not. Things that are needful or helpful, it would be nice if the chains themselves would self-regulate without being forced or compelled. Unfortunately, we have the tendency to see the opposite happening—little self-governing. I have no doubt though that more regulation is coming. Governments can't stay out for long.
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STEEM has a very high inflation especially in a bear market, because of the STEEM DOLLAR peg, which generates a large amount of new STEEM if users start to convert their SBD to STEEM in order to maintain the $1 peg.
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