Powering down is like an indirect way of withdrawing your steempower or let me just say is a way of withdrawing steem,if more people are withdrawing steempower it means they are selling their steempower to get steem,and when they are powering up then it means they are buying steempower with steem
Well going by that analysis then it means that powering down can affect the price of steem negatively because it will mean that people are selling their steempower which means there might be less demand for steempower or they feel their steempower is not worth enough money thereby making supply to be more and demand should be less thereby making the steem price to go down,i might be totally wrong but that is my own opinion concerning the issue
In part if the people who power down then move the steem onto an exchange to either convert to fiat or another crypto. This means there is Steem on the market that is floating and awaiting a purchaser.
To make a commodity more attractive to buy, the price will have to be at a level that people want to buy at. The more Steem availab!e, the lower the price.
Its not all down to powering down as Steem is quite closely following the path of crypto market leader Bitcoin, but the desperate selling of Steem as people panic over losing money on their investment certainly isn't helping.
It's like a self perpetuating downward spiral that will only stop when newinvestors, in for the longbterm are found and when people stop using Steem like fast cash trading chips and see it as a serious investment vehicle.
People powering down right now are going to be really kicking themselves when STEEM is at $5 or $10 which will happen I believe in the future. They are not the reason for low price. Everyone should be sweeping in and buying their Steem for cheap before it goes up.
Powering down is like an indirect way of withdrawing your steempower or let me just say is a way of withdrawing steem,if more people are withdrawing steempower it means they are selling their steempower to get steem,and when they are powering up then it means they are buying steempower with steem
Well going by that analysis then it means that powering down can affect the price of steem negatively because it will mean that people are selling their steempower which means there might be less demand for steempower or they feel their steempower is not worth enough money thereby making supply to be more and demand should be less thereby making the steem price to go down,i might be totally wrong but that is my own opinion concerning the issue
In part if the people who power down then move the steem onto an exchange to either convert to fiat or another crypto. This means there is Steem on the market that is floating and awaiting a purchaser.
To make a commodity more attractive to buy, the price will have to be at a level that people want to buy at. The more Steem availab!e, the lower the price.
Its not all down to powering down as Steem is quite closely following the path of crypto market leader Bitcoin, but the desperate selling of Steem as people panic over losing money on their investment certainly isn't helping.
It's like a self perpetuating downward spiral that will only stop when newinvestors, in for the longbterm are found and when people stop using Steem like fast cash trading chips and see it as a serious investment vehicle.
There is no connection of steem price with power down. Because if you down your power and you got steem and that took 3 months. Hope you understand.
People powering down right now are going to be really kicking themselves when STEEM is at $5 or $10 which will happen I believe in the future. They are not the reason for low price. Everyone should be sweeping in and buying their Steem for cheap before it goes up.