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RE: Steem Price is being pushed down by 1 person! Speculation on why and where it may end up
I don't think they are driving the price down "on purpose". They are selling STEEM as always stated they would (both in order to raise funds for development and to redistribute stake to buyers), and in order to actually sell you have to offer at a realistic price where market participants will actually buy it. Offering well above market accomplishes nothing except putting a big wall up "for show".
Did you type that with a straight face?
Look at the order book, they were only 50 shares away from 1.12 and .17 cents more profit on 50,000 shares. The 3 big orders are all steemit sells, and they purposely chose .95, instead of 1.12, wasting $8500 and forcing the price down in the process. This is not profit seeking behavior. If you are right and it wasn't "on purpose", then it should be noted that whoever is controlling that account is wasting thousands of dollars.
These big market actions send messages to investors, just like when a CEO sells stock in the company he is running... When people see an attempted $150,000 dump by the CEO or owners during a 50% drop in price, it does not inspire confidence and makes the situation worse.
Your argument is that someone is going to just show up and pay 1.12 for an asset that was trading below 0.95, as a gift so that steemit can make an extra 0.17? I don't buy it. I saw the walls, which were sitting there for quite a while (hours and hours). That observation alone means they were priced above the current (real) market price, not below it.
You are obviously just going to defend anything that account does, be it manipulative or stupidly wasteful. Have fun with that.