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Supply and Demand 🌀 Newb Question? by inphiknit

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· @inphiknit · (edited)
$0.78
Supply and Demand 🌀 Newb Question?
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<p><br></p>
<p>When the supply is seemingly much higher than the apparent demand, and the chart looks like this;</p>
<p><br></p>
<p>https://steemitimages.com/DQmPD6LTZ8x12YQTgJcZk1FZghHkP8ZeSu2rkpzKwwybNYW/image.png</p>
<p><br></p>
<p>Why is the price of steem not dropping?</p>
<p><br></p>
<h2>Thanks For Your Attention and Support!</h2>
<h2>Melech ben Chaya מלך בן חיה, <a href="https://steemit.com/@inphiknit">@inphiknit</a></h2>
<p><img src="https://i.imgsafe.org/594fb765a1.png" width="412" height="263"/></p>
<p><br></p>
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@ace108 ·
It's been like that as far as I have seen. Just the range of price differ. 
Will be good to see it in opposite heights.
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@inphiknit ·
I wish it were lower too! Guess I missed a chance :)
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@crypto-investor ·
Sell walls only stop price increases, they do not drop price.  Also, some sell walls can be faked, as well as buy walls faked.  For example, as a coin rallies, you might see a huge buy wall on the way up... often a fake buy wall.  It vanishes often followed by a crash.  Buy / Sell walls are often use to manipulate market perception, rather than as an accurate gauge of demand, but I do not think this applies to Steem.  Likely, they are long-term holders, willing to sell at a fixed price and no lower.
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@inphiknit ·
Thanks for the great summary. I've got a lot of studying to do...

I'd love to be able to distinguish between a manipulation and true market conditions.
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@crypto-investor ·
psychology is how you guage what is going on, or attempt to at least
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@ionlysaymeep ·
$0.04
meep
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@ourlifestory ·
$0.04
Because their are apparently no sellers who are willing to sell their Steem for the price that will meet up with the highest buy order. 

The sell walls you see could however  potentially  make it harder for the price of Steem to rise.
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vote details (2)
@inphiknit · (edited)
So if we saw more volume of both buyers and sellers on the internal exchange, only then would we see a quicker reaction downwards? Thanks for the reply.
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@ourlifestory ·
$0.04
It could be just 1 account selling a bunch of steem for much lower prices to make the price drop.  I am not quite sure how the prices of the internal market compare to the prices on a exchange though. 

Mostly trade Steem on Poloniex and almost never on the internal market. Its an interesting question
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vote details (2)
@screenname ·
Re: Supply and Demand 🌀 Newb Question?
<p>This post has been ranked within the top 50 most undervalued posts in the second half of Apr 27. We estimate that this post is undervalued by $2.80 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-apr-27---part-ii">The Daily Tribune: Apr 27 - Part II</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
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