Dear @aggroed
I also believe that BTC can go down all the way to 1000-2000 usd. It's not only panic sell coming from us investors. Right now many cryptos and ICOs are trying to survive. And they are selling whatever thay have in order to get enough funds to get them going.
STEEM and Steemit Inc is a great example of it. To cover operating costs they are forced to sell their own reserves. And lower price is -> more they have to sell. Because most of their costs are in FIAT currency. That's just crazy cycle.
At this stage there is no trust, noone want to take risk of investing since ratio risk and profit is just awful bad. Risk is huge and chance to make any profit close to zero.
And it will most likely stay this way until most current projects will shut down. So they would not be able to sell anything any more. It may still take few months, but ... more blood on the street = better. We will clear crypto space from all those dead projects.
And only then we can start rebuilding trust.
Plus lack of regulation isn't helping. I dont think I know any investor who like to be in a limbo. Knowing that even if he would somehow manage to make profit then he may have problem later on with tax officers.
Personally I believe that we all have to wait for STO (security token offerings) to become new thing in 2019. Next few months can be VERY difficult to many of us.
I don't think it's a real business to have a stake and dole out rewards. As you can see that isn't a sustainable model especially when the prices go up and down
I wonder what's your view on security tokens ? After all those are backed up by real assets. And this changes EVERYTHING.
Imagine that by purchasing big part of STEEM you could purchase ownership of company behind it? That for instance you could buy Steemit Inc and replace all their team with your own people. Would Steem Inc. be still selling their own tokens now? I hardly doubt so.
This would reduce supply a lot.
Yours
Piotr