Check out the Withdrawal to Deposit Ratio by User Count over Time in the weekly Exchange Transfer reports I've been doing. That ratio has to go a completely different direction for the price to really change around here (IMO). I don't think that will happen until everyone who wants to sell their STEEM and SBD on the market does so and we reach some kind of market equilibrium.
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thank you for drawing my attention to your reports @lukestokes. Does seem to be some shaking out going on. As you suggest, we wont really see where that leaves things until it reaches some sort of equilibrium.
You're welcome. I'm actually quite surprised how relatively stable the price has been given how many people are cashing out compared to how many people are depositing. If that number were ever to reverse... I think the price could go way up and quickly.
Let's hope that it heads to the reverse as soon as possible ... but in the meantime, I'll be good with relatively stable.