We are going to have to really wait a week before we see more of it being dumped. The strategy I used was to stay on the old power down cycle which lined me up for a payout 4 days after the fork. Knowing that if someone stopped and restarted their power down right after the hard fork that I would get a better price than I would if I would have stopped and started it like a lot of others. I was right. Now it has dropped another $0.05 since then. Others used this strategy. Once they got that power down they then stopped ans started. So I'm 4 days off set from the day the hardfork came out.
My plan is to sell as much as I can to try to get $300 out of my account unless the price dropped below $0.10. If it drops that low I will probably just stop my power down and let it ride. If it hits $0.02 then I'm a buyer.
I'm not sure if I will power it up though because even if I bought 1000 at that price and the price was low my vote still wouldn't be worth anything. I might just keep it liquid and wait for the price to jump up higher and then sell when it is higher. We will see. Time will tell.
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Good reasoning on the power down cycle. Let's see what will happen. I'm already a buyer now. If it hits $0.02, I'm selling my car :). That's a joke of course. I'm sticking to my buying tactic for now. Buy a bit every time.
It is a good average down strategy. I try to think of the mentality of the whales to really try to figure out how low it can go. The issue is I don't know how easily some of them got the coins. Let's just pretend they were an early miner and they spent $2,000 in power and missed out on $2,000 worth of mining another coin. Then let's say they dedicated $4,000 worth of equipment for that period of time to mine it. I would say their cost basis is $8,000. Well maybe that got them 1,000,000 steem power and then they earned the 160% interest there for awhile and were powering down while the price was high. They might have already yanked out $100,000 or more. Then even if the price goes pretty low it could still allow them to cash out another $100,000 or so. Depending on what there situations were before they might figure they can change their life now and still have a low of Steem Power to let it ride. It is hard telling.