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RE: Is this why the price of STEEM is struggling? STEEM Withdrawls 2017
Easy, the incentive to game returns intensified as cryptocurrencies rallied.
You can trade Steem for other assets, which were rising much faster than Steem ever did.
Ok.. my interpretation is more that the price went up like all the others but then something kicked in and the price went down again. But with the given information, both theories seem valid.