Steemit has over 1 million members. So why Steem price is keep going down?
Steemit community keep growing, that's great! I appreciate that! But why Steem price is still keep going down? Whenas the expectatitons about Steemit are very good. Please share your opinions...
View this answer on Musing.io
View this answer on Musing.io
It's because the whole market is loosing capital, it's not just Steem. It does matter that Steemit as a social media platform has increased its users, but Steem, the token, is listed on different markets and that's where its price is decided.
So, when the whole market goes ups Steem goes up in price and vice versa, no matter of the number of users.
Actually all crypto market is going through down trend. Mother currency like Bitcoin is going through down trend that's why all altcoin price are not stable and people are getting panic and selling Altcoins. Steem is also a part of this bearish market but don't need to worry once Bitcoin bull come all altcoin will follow uptrend with mother currency Bitcoin . It's just matter of time every coin will recover who have working product like steemit. Steem coin is genuine project and they have good team that is why price will increase sooner or later wait for Bitcoin bull run.
I know you are thinking steemit community growing but why price is not increased there is reason when bearish market come old people sell theirs fund before panic sell and once old people sell new nobes are getting panic and they also sell that's why bearish trend win. But when price goes all time low again old investers come and buy at cheap rate then price will start increaseing its life cycle of crypto community. So don't worry price will recover wait for good bonce back.
no one can say that for sure, its pure speculation since whoever sells on exchanges does not do that with name and surname
possibly a combination
one thing it is not is plankton selling sbd right away lol, there's about 10% increase in account numbers since i got on, thats not enough to give such a huge dump ... i dont waste time thinking on it since it's out of my control, but i HODL(ol)