Steem's fast fall is really a cause for concern. It seems some of the big players are selling their steem holdings. Such move is one of the actions that can trigger such fast fall of Steem. The price decline is really causing some investors to sell. But how can someone risk selling at such a low price? Steem has a greater chance of bouncer back, so instead of selling, it's best to hold and hope for a price turn around.
Though the bearish market doesn't seem to be stopping any time soon, so we all should brace up ourselves for the challenges ahead on steemit
STEEM emmm yes you can say its going down faster than other major cryptos. Why? because STEEM only has :
OMG, today is worse too, already down 19.42%.
Actually, if the learning curve for activities in the STEEM blockchain network is easier, of course the adoption will be even greater.
However, FUD again occurred when @ned fired 70% of his employees only because of STEEM prices which continued to decline. This is so bad! for the STEEM ecosystem because the SMT release also became gray again.
I think it could be due to a couple of factors.
Normally when a coin drops so much you have either sold or you just ride it out by holding. Seriously what is the point when it is at 23 c. Just hold or buy more but don't sell.
There are loads of users who use Steem to live off or pay for some of their bills so there is always Steem going to the exchanges even at these prices. I think if we see the 15 c mark then hopefully that will slow down.
It shows you manipulation is still going on and the institutions are getting ready to go shopping it seems. I don't think we are finished just yet either.