Hey All,
I joined up Steemit when Steem currency was valued at $2 USD, so experiencing drops like this don't worry me that much. But I was looking at the market while Steem was valued at $1 USD and witnessed an 18 cent drop right in front of my eyes. Can someone who's knowledgeable in markets like this explain to me some of the potential causes and effects of drops like this? I'm very interested.
Signing off,
Myc(r)oft
The Whales (some of them) are powering down. Really the only way I can see the site being successful is for the whales to continue to power down, so I am thinking it is a bump in the road.
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Ah cool, thank you for the information!! So basically it'll dip for a bit but in the long run this is good for the network?
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