If you got your steem at $0.03 cents like many of the whales did. Then selling at anything above $0.03 is a profit and a huge 100% profit at a price of $0.06.
The whales are the ones who are selling the most steem.
Whoever bought steem at a higher than $0.03 price is paying the whales profits right now.
Steem could go much lower than the $0.30 it is today and they are still making massive daily profits by selling their steem.
Even if I got in at .03 I still wouldn't sell now.. not knowing that's it's been as high as $7.. plus knowing that selling now only lowers the price more.. maybe they're manipulating the price..
There are currently about 53 million steem on the various exchanges waiting for price movements up or down. There is quite a big buy wall at the sub $0.30 range.
maybe they're manipulating the price
If you believe in economics then the 'price' is the only true determining factor in the value of anything.
If you got your steem at $0.03 cents like many of the whales did. Then selling at anything above $0.03 is a profit and a huge 100% profit at a price of $0.06.
The whales are the ones who are selling the most steem.
Whoever bought steem at a higher than $0.03 price is paying the whales profits right now.
Steem could go much lower than the $0.30 it is today and they are still making massive daily profits by selling their steem.
Even if I got in at .03 I still wouldn't sell now.. not knowing that's it's been as high as $7.. plus knowing that selling now only lowers the price more.. maybe they're manipulating the price..
There are currently about 53 million steem on the various exchanges waiting for price movements up or down. There is quite a big buy wall at the sub $0.30 range.
If you believe in economics then the 'price' is the only true determining factor in the value of anything.
It's an interesting market to watch. :-)