It's been going down very slowly, which implies that it's more of a loss of interest from investors.
What this also means is that it's not caused by a troublesome bubble.
Instead, we're at a position where just a few major investors can seriously change the market, and blast us back into 50 cent territory rather easily.
So my plan is to continue to invest in Steem.
Steem is longterm, not shortterm, so if you keep that in mind, you might find yourself clutching handfuls of gold soon.
This project obviously needs time to be successful as it should be. Time is what we do have and this is work in progress.
It looks like whales want to reduce the price for two reasons.
become more decentralized.
I like to think that the reason 2 is going on. If not, damn, we are in trouble, 80% of all steem on few accounts is troubling (that is if they all want to sell, however if that happens they all lose value and nobody wins).
Even if they cash out, the steem still goes somewhere.
Where does it go? To people who buy it.
Anyways, my only dilemma is the fact that I'm not some speculator, but an author, so this means all my gold has turned to dirt, even while I hold it in my hand.
So it'll be a very very hungry week for me. Hopefully I don't starve to death.
Sure, as long as being author here gets dollar value and steem dollar peg holds, steemit will stay. Steem power is your long term, you can't do much about that . Nothing really else to do than keep on steeming and writing quality blogs.
Yeah, I know.
Honestly, it won't take very much to boost Steem prices up, so I wouldn't be surprised if a greedy investor just boops.
Buys one million dollars in Steem.