Why is Steem price falling? by chitty

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steem · @chitty · Jun 8 '16 (edited)

$120.27

Why is Steem price falling?

![steem_price](https://bittrexblobstorage.blob.core.windows.net/public/e53c29d9-ef28-45ea-bbb3-a0ff762a7b9f.png)


a) Inflation
b) Traders think people will sell on the 4th so they are getting out first
c) Steem witnesses cashing out
d) Users dont really get the benefits of powering up
e) Other: Give your own reason

I personally think its a combination of B and D, but I would like to know what your thoughts are?




_*This is a trading thread, I believe steemit is great platform, however I also enjoy trading and discussing price analyses, please do not get offended by Bear comments._




#steemit 
#trading

👍 smooth, fuzzyvest, rossco99, joseph, ash, idol, chitty, james-show, forrestwillie, hcf27, steampunkpowered, cryptorune, vinotinto, cryptogee, alyssas, viet-ngo, arskiss, arjoona, iridium32, mike-mike, dmitry, perennec

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@abit · Jun 8 '16

Too early to say it's falling

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@chitty · Jun 8 '16 (edited)

Traders open positions that last hours, sometimes even less... I think you can safely say the price has been falling for the last 2 weeks, if it goes up tomorrow you could also say price is raising... I know, sounds stupid but that is how trading works... I saw people panicking on poloniex when ETH price felt to 0.015 and then the same people hyping when price went back up the next day!

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@ash · Jun 8 '16

There will be blood on the streets at the 4th. My prediction

👍 bitcoin-dood, webdesign29

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@help-yourself · Jun 8 '16

If they were "random" people involved - I'd fully agree. 
But on July 4th there will be a social and emotional aspect involved - people have made an emotional investment in Steem when they produced their original content and interacted with each other. It's hard to predict which emotion will prevail: greed or gratitude and desire to be together.

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@samupaha · Jun 9 '16

Why? My guess is that Steem will get a lot of positive publicity because so many people will get paid at the same time. That will attract more new users and probably investors, too.

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@blakemiles84 · Jun 8 '16

What matters most in the long term is not the momentary price fluctuations or the price manipulations from large players, but the technology underlying the token. In the case of Steemit, I'm rather confident of its long term viability. This was the same rationale I put behind buying into Ethereum back in January and that worked out quite well for me. 

If you can, try to pay as little attention to it as possible, or even better, find the bottoms and buy :) Buy 1BTC worth at a local bottom, and then sell 1BTC worth at a local top. Keep doing this and eventually you'll have many more tokens than when you started!

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@govannonfrei · Jun 9 '16

$0.40

Low volume!!!

👍 boombastic, arjoona

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@james-show · Jun 8 '16

$0.19

Steem is a complicated beast!
Even when the price per individual steem is falling the market cap and your vested steems are actually growing in value!

👍 chryspano, donkeypong, chitty, james-show

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@smooth · Jun 8 '16 (edited)

That hasn't always been true during this decline, but it is a reasonable point overall. The market cap chart is a better indicator of how SP holdings have performed, though it slightly overstates due to some ongoing dilution.

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@nanzo-scoop · Jun 8 '16 (edited)

Its being pumped as you post... I wouldn't get too excited either way.

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@smooth · Jun 8 '16

E) Too different from everything else, so few if any investors really understand it, and the rest just stay away and move on to something else. There are many choices of investments, most are easier to approach than this. 

The others are true to some extent. The one I can largely rule out is C) since witness payments are 100% SP and the amount that you can cash out so far even if you have been a full-time witness since day 1 is pretty small.

👍 chitty

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@chitty · Jun 9 '16

Thank you for your input!

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@tuck-fheman · Jun 8 '16

.30c USD, seems normal. It was same price not long ago (before BTC rise) and then shot up ~.50c. I expect the same thing to happen here soon™.

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@hcf27 · Jun 8 '16

Yes, usd value has not change much..

👍 proctologic

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@smooth · Jun 8 '16

Yup, recent big BTC rise is a good part of it. Many alts get slaughtered when BTC goes up. Since late 2015, trading action has been such that alts have often been priced based primarily against USD not BTC.

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