Market Update on Steem 9/30/2018

in #steem6 years ago

The air came out of the balloon and we pancaked right from the moment HF-20 kicked all the small Steemians in the nuts. In the immediate cycle I don't have a feel for what HF-20 will do to the price of steem going forward nor is the market giving us an indication.

Market internals indicates momentum is dead. Marketing lesson: if you change the rules (HF-20) people stop buying your tokens because they don't know what it will mean going forward. Markets hate uncertainty.

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The fact that exchange wallets are still limited doesn’t help either so let’s see what happens this coming week as traders come back and wallets potentially come back online.