What causes steem prices to be so cheap?
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The price of Steem is set by the market. That is to say, it depends on how much demand there is to buy the Steem token. If more people are buying Steem than those who are selling, then its price increases.
If the opposite happens, the price goes down. Due to the overall bear market, Steem price is going down and have lost more than 80% of its value till all time high.
Also, many large whales have powered down recently which put a huge downward pressure on Steem price. If the bear market continues for a long period, it could go further down.
Steem is a speculative asset and that's why large price swings in both directions is expected from it.
you received an up vote from danlupi with voting power of 100.00%. Estimated dollar amount of $1.23
Have a nice day :D
Thanks for the wishing. But if you make the same message again and again, it could be seen as spam and penalized by Steemcleaners.
Hope it will raise up shortly, I haven't withdraw any steem or SBDsince Jan18