Thank you for this post. What I am hearing you say is that STEEM as well as all crypto, especially Bitcoin are about to go through a stage of human fear which will trigger profit taking over the next few months. And 25000 sats? That is scary. And when enough people have done that and the bear trend slows and halts, we will see a rise again. I hope I read that all correctly. But I have been taught that in technical analysis drops are sharp as it is fear based. And rises a slow and steady as it takes money (like it takes gravity to go up. And along the way there will be indifference (flat lining).
Hey on a more minor question do you think it is possible that with the price plunge yesterday, steemit accounts with steem dollars converting to into steem may be taken from members as an emergency measure? This happened to me and a few people I talked to . I wrote a very careful thread to try and seek answers, The details of my question is in this thread if you have a moment to check it out. I'll look forward into your insight :) Upvoted
The drops are fast yes. Often drops can wipe out months of gains in just a few minutes.
The system is not managed by anybody. There is no situation where the system will "take" money from people converting steem dollars to STEEM. The system calculates the value of the STEEM over a 3.5 day moving average. From the moment you start converting. If the market has an aggressive down move, then your average conversion price may be a little higher than current market price and thus be a slight loss. Do not assume that "someone" is taking your money however because that is simply not the case.
I did not think so. But I am just puzzled to how it really disappeared. Unless it is not meant to be visible during conversions