Unfortunately no ones balls are made of crystal, and the future lies in the unknown.
I woke this morning (it's morning here in the Southern Hemisphere right now) I saw the price of steem trading at the lowest I've seen
And I'm wondering if this will stop, or if all the million dollar accounts that have been powering down have taken a toll that isn't being reversed by all the new members.
I thought the new joins would even it out, but I guess the problem is all the new members are struggling to be heard, therefore struggling to accumulate steem and steem power.
I'm new to the world of crypto
Steemit has opened my eyes to the amazing and volatile world of crypto currencies. I'm no day trader on the traditional stock markets either. But I have been following the prices of the big few cryptos, including steem, and reading all the great reports that steemit members like @ozchartart, @masteryoda, @steempower publish regularly here on the site.
Masteryoda's reports are full of all the successful users, making a killing with their work here, the others are focused more of market prices, movements and trends.
Unfortunately no ones balls are made of crystal, and the future lies in the unknown.
So, where will the steem price end, or has it been "ending" since I joined a little over a month ago?
Nobody knows. We'll see.
I don't think it really matters what the price is at this still very early stage. what really matters in my opinion is the quality of the community on here if you want real value the last thing you would be looking at or expect to get is the money .don't worry about the price enjoy doing what your good at and share it. the money or the price cant help but follow.
This is it...
Speculation! That's what will stop the price from falling. If devs can announce something good & new, price will reverse, But only for a day or two.
If you are using Steemit as an investment vehicle then you are right in your concern of the price! Do not ignore the PRICE! That's a terrible advice!
Price indicates the general sentiment/views of the traders and investors.
It is falling due to several factors like Devs are powering down $2M a week (as reported by others), many small-time users are disappointed on curating rewards/impact of votes, ponzi/scam scheme suspicions, no promising developments in sight (only devs knows what's next), 100% inflation rate (more steem supplies every secs), etc.
If you believe in STEEM's potential, you should be happy that price is falling this time so that gives you opportunities to hoard at discounted prices.
Crystal balls are not needed when the past & present are sufficient guides into the future! Cheers!
Very good and concise summary of why the prices is currently going down.
I would not worry about the price right now. I for one will continue to power up as the price drops.
That's what I've been doing, so far, it's just this new low is so low. I guess I haven't really got much to loose anyway, the little steem I do have has been earned on here - I haven't put any of my own $$ into it.