FUR'd for more visibility and support.
But can we also assume power downs are the whales' best strategy to protect their investments? If I know that Steem is headed for 0.85 or even lower later this year then wouldn't it be best to liquidate holdings at $1.77 invest it somewhere else like SBD which is doing almost 30% better at $2.31 then just buy Steem later when it hits 0.85? Or maybe in some other more traditional investment alternatives like bonds or stocks not necessarily SBD. Just a thought.
Thanks Gems.
Your thought would require that a trader is so perfectly in tune with the market that they KNOW that the price will drop to a certain place, so they are willing to forego their daily profits, to make more later when they buy back in.
Whales make a huge return on their investments (30% or more annually), so to try to time the market for a "maybe" is not that great of a strategy.
My guess is that the power downs are really very simply cash flow problems, plain and simple. Just like margin calls force people out at the worst possible times.
Blessings!