You've noticed a massive decline in Steem over the past week and you are probably wondering what the bleep is going on! Here is a simple and easy to digest explanation. Also what I believe we will see in the next week.
If you have your hand on the pulse of cryptocurrencies for any long period of time, you will understand how reactive the markets can be.
This past week and a half saw some not so favourable publicity on Steem. May I just add, it was only based on fear mongering and a ultimately an opinion piece. This most likely resulted in the steady decline we have witnessed. However, as anyone in crypto knows, bad publicity is not such a bad thing...it provides great buying opportunities. Please keep in mind there is a lot of scepticism in the world of crypto, it also happened to bitcoin back in the day and we know what happened there....
One fundamental remains the same, if people are using the currency, the platform and the tech is expanding. The valuation will ultimately rise.
Fortunately the thing in Steems favour, is it's a currency which has technology that is actually being used, which is more than what most of these other crypto coins actually have.
To wrap us up..Steem is still finding it's feet, but with that said, the recovery of the price looks to have begun. Which is good news for all on here :)
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