This time we won’t have Steemit Inc’s monthly selling. It would be interesting to know if they increased that selling during all time highs to secure capital for the bear market.
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This time we won’t have Steemit Inc’s monthly selling. It would be interesting to know if they increased that selling during all time highs to secure capital for the bear market.
True, but there is also a lot more supply out there currently and a lot more of that supply sitting on Exchanges, which will play a major role. By my calculations there is at least 50% more supply right now than there was back in 2017.
That's a great point. Hopefully people can hold on strong until I have pulled some profit. 😂
If we use that supply logic to get a peak price, we would expect a price 50% lower (to get the same market cap), which would be in the $4-$5 range. I should look at the amount sitting on Exchanges now vs. then to get another possible price projection compared with our peak back then...
That's true. One thing to take into account possibly is the fact that the entire crypto market is also larger in terms of people and market cap than it was in 2017 so the two might help balance each other out. The two being increased supply but more people/money.