Another reason why price is dropping is because the whales are all powering down which creates more of a steem supply. They are adding steem to the market and supply is greater than demand.
RE: Basic Game Theory: Why Steemit Whales Won’t Sell Past a Certain Point
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Basic Game Theory: Why Steemit Whales Won’t Sell Past a Certain Point
They are, but this could be seen as a good thing because speculators and those who arent whales already will be buying, thus spreading the wealth around and creating more people with the ability to do meaningful curation.
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I agree with you here, it's often easy to get trapped into only looking at the decisions of others from your own perspective. This is a big game with lots of moving parts.
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Supply meets demand. Each transaction has a buyer and a seller in either side.
I think that the market moves echo a fundamental change: Whales powering down are debasing STEEM.
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and people cashing out of steemdollars are doing the same thing. Luckily, those holding their steem in STEEMPOWER(SP) are not being debased as they are largely protected by holding SP.
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