I kind of wonder if we're at the tail end of what I'd call "profit taking" via people powering down when STEEM hit it's high mark for the year in late May. Since it takes 13 weeks, this could explain why there's been a steadly decline since then (conveniently STEEM hit this current bottom about 13 weeks after it hit the high a few months ago.
If this is the case, people who started the power down process in late spring when STEEM hit a high for the year would be at the tail end of their payouts at this point in time.
I'm still new and I'm no expert. This is just speculation on my part but it sure is interesting that the downtrend lasted the same amount of time that it takes to power down (13 weeks). What do you think?
Regardless of the cause, it sure is nice to see my account value growing even on some days when my payouts are small!
I like your analysis @me-tarzan. You have very unique methods and I've very much enjoyed your posts!
Yes @cryptokeepr I have also had similar thoughts on this . I think many of the big boys that wanted to cash out are probably about done . But we have to remember that a power down can be stopped at any time .
With so many fundamentals of Steemit doing so well we will surely see a big increase in price at some point.
I honestly wouldn't mind if STEEM stayed under $2 for a bit longer so I can continue to buy at a cheap price and power up. I want to have at least 5000 SP by the end of the year and 20k by end of 2018. But I won't complain if STEEM does skyrocket in the near future.