From trending posts to shitposts, everyone is now sharing their views about decreasing values of cryptos. This one is such a small post. There are many reasons why the price of steem is moving downwards. Yes, there are several reasons and the process is too complex that I dont really know to craft a technical post out of it.
A respectable personality of steemblockchain who was responsable for the entry of so many people into steemit, , has opined that it is the increasing trend among whales to downvote others posts rather than upvoting them that made the price of steem this cheaper. That post was on trending for few hours with a dollar value of over $1100 before it was brought down to current $187 due to the rush of powerful downvotes. Remember that a post on trending page can shape the perceptions of thousands of laymen who read it. If it is not authentic, it has the power to eventually destroy the platform! I'm happy that many comments under that post cleared many doubts!
Some say the values are lower because of the value of bitcoin is lower!
Some other say it is a reflection of what is being happening in the international political arena. Infact, the thing is that nobody is sure about what is going on.
But I do know that cryptos are volatile and we cant expect the values consistently to be in high or low. It changes because of various factors which are not in our control.
Adding fuel to this dilemma, in India, crypto exchanges have been banned from banking services which will come to effect from the july 5th! Many indians have already started to panic sell . Considering the low prices and the special situation existing now, many of them have ended up in huge lose!
There is no legal ban in india on the trading of cryptocurrencies. Also prices will hopefullly return to a higher value in future. Please don't panic sell believing in the frauds!
WIshing you all a massive profits!
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