Why STEEM price is going down!

in steemit •  8 years ago  (edited)

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it took me a while to figure out but i found out why... well if you buy and sell at the same price nobody wants to buy at the same price... so this is how the price keeps going down.... because people just want to sell and people who buy want to buy always at low price and sell at higher but since its not working the price continues to drop....

I believe its a bittrex bug....

steemit steem price crashing down
8 years ago by

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      ·  8 years ago 

    I up voted you so more people can comment. What you are seeing is not a bug at all. Bids are what people are offering to Buy Steem for, Asks are what people are offering to sell Steem for. The reason the price is going down right now is because there are more people trying to sell than trying to buy (or more supply, less demand).

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        ·  8 years ago (edited)

      yes but the price is the same as buy and as sell.... first time i see this...

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          ·  8 years ago 

        Those are the boxes where you enter the price you wish to buy/sell, if you look at the bid and ask in your picture those prices are not the same.

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            ·  8 years ago 

          i do know that but those boxes usually recommends the price currently never seen them go equal up and down... except if they made that manual to... like in poloniex they never go same price....

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              ·  8 years ago 

            The price change depends on the demand and supply of steem. If the demand for steem is larger than the supply, the price will rise, vice versa.
            Recently, it's reported that steemit is attacked by some hackers so the demand for steem is negatively affected and drops. That's why, the price drops.

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              3 votes
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                ·  8 years ago 

              The makeup video creators are cashing out their SDs.

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