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Despite having lot of potential Steem is sinking down along with other cryptos. What are the mian reason ? is it like that game over for cryptos?
$0.01
6 ANSWERS

I would say that it is the market sentiments which is currently deriving the crypto market down. It's not the STEEM or any other cryptocurrency potential that is leading the markets to sink. 

Let me give an analogy where the financial markets i.e. Stock market also see a downward trend and we see many good stocks which have great potentials and are also doing good but due to the market trend/sentiments on the downward side makes good quality stock also nose dive. The same principle applies in the crypto space where were are currently seeing all the coins/tokens taking a beating due to the market sentiments towards a sell-off. 

And when there is a sell-off and panic created around we see a high number of sellers as compared to buyers - which further leads to the markets moving down. Here the demand and supply rules apply where there are many sellers and fewer buyers automatically the priceses of a commodity will go down and the same is being applied here to the cryptocurrency space at the moment - where we are seeing a large number of sellers leading the markets to go down. 

Also, I happen to read an article which stated that due to the concerned expressed by crypto traders that there could be a slowdown or "confusion" created after the software upgrade because of the recent bitcoin cash fork. Many traders are of the opinion that this recent hardfork for bitcoin cash could lead to some slow down in the market and as a result, the sentiments have been on the negative side leading the market to bleed. 

I would sum it up with market sentiments, recent bitcoin cash hardfork, traders not liking the hardfork and believing that it could lead to a slow down in the market has resulted into a major sell-off currently. So the game is not over Yet the cryptocurrency has a long way to go because of the Blockchain technology and the advantages that it brings to the table is humongous - so HODL and if possible average out your portfolio its a good time to buy.

$3.29
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Just like a bull cycle is reality, so as the bear cycle. Why are you so worried about the steem price, why don't you see this as an opportunity where the investors can put money and make the base for a bull cycle, technically if you check the steem price vs BTC it has been well supported by around 10k satoshi and last year in 2017 also the 10k satoshi level was very well respected. This is a good sign for steem and I think December is going to be much more interesting for steem, so finger crossed at the moment.

The main reason of slide is not attributed to anything related to steem fundamental and it is the whole crypto market which is reeling under immense pressure, see the altcoin market all are red and it is basically driven by the sentiment around bitcoin and that is setting the tone of the entire ecosystem.

The game is never going to end for cryptos. It is here to stay. Just like the bull cycle is not the final so as the bear cycle and it is the journey which makes it better and better only and we all are part of this journey, so relax, chill and just keep posting more and get engaged on day to day basis in steem blockchain.

$1.84
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The valuation of all cryptos, including STEEM, has always been speculative and not based on existing revenue streams but future potential in valuation. The extent to which the potential future valuation is based on potential revenue streams as opposed to further speculation is unknown to me as I have no information on what goes into the decision making of other market participants. Anyway, the speculative nature of the market is the reason why crypto valuations are subject to market sentiment to an extreme degree. Whether or not this is the beginning of the end for crypto remains to be seen. STEEM is not just a cryptocurrency, however. It is a utility token native to the Steem content delivery platform. Transfers of STEEM from one wallet to another are a small subset of all transactions on the blockchain. Most of the transactions involve posting content to the blockchain. As long as the ecosystem has real value, the STEEM token will continue to have value as well. What we have to do is do our best to create quality content to draw attention to the content on the platform. Attention to the content is valuable and can be monetized.

$1.04
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This was expected. We can expect it to drop some more and have no idea how far either. This is not game over but the game is about to start.

This is the result of manipulation now and getting rid of all the weak hands that are hanging on. We know of Fidelity and Bakkt who have announced their intentions of buying and investing in crypto.

They mentioned that they would be starting from the first quarter of 2019 and this looks like their influence now. By manipulating the front end of the Bitcoin market they can strangle the crypto movements.

This fits in with the timing and we should expect a massive boost to the market cap when it starts. There is still 6 weeks before 2019 so we may not have to wait that long.

$1.01
Reply

Most alt coins fluctuate with bitcoins influence, meaning if bitcoin rises, so does everything else, if it drops, then the alt coins drop as well.

$0.34
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Up and down are frequently happening in marketing situation. It is sad to see the crypto especially steem goes down. In my view, it is not sign of the crypto end. Sinking down is just a matter of time, they will be rocketing in near future. For investors, they use this moment to invest for what they believe, this condition will turn into easy-money spot. Just stay positive on the changable crypto price and believe or not crypto will take over the economic world.

$0.00
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