If you guys traded on Poloniex, you will notice that recently there has been a lot of issue on deposit and withdrawal of Steem and SBD. It is really frustrating for many users because people with steem and SBD on poloniex cannot withdraw them after buying them and every minute they keep it there is another minute of risk (of losing due to hacks on Poloniex).
http://www.newsbtc.com/2017/06/24/users-cant-withdraw-funds-poloniex/
Because they couldnt withdraw steem and SBD, the only way is to sell into btc or for other coins. These might also be one of the reason why steem price is dropping rapidly (Not complaining- I want to buy more steem). But I feel generally the whole crytocurrency market is very carefully manipulated by rich whales with the help of those exchanges. However if you are able to decipher what is the motive behind those moves, I believe you can make yourself a good fortune outta it.
Having said that, I feel that the recent downtrend/ major correction/ bear market/ bloodbath is just another carefully calculated move by the whales and it is their job to instill fear and panic into naive investors to think that the party is over, so that they can buy at lower prices. Looking at how the market is reacting, I really pitied those who had bought due to FOMO (I m one of them) and sell at a loss due to panic (I m not selling and still buying).
Its quite hard to not feel anything when market drops 10-20% everyday and seeing your money getting lesser. What I normally do is to play some games to take my mind off the market or spend some quality time with family. During times like this, we all must stay strong and have strong hands (from selling). Just ignore the market awhile and it will recover. It always have and always will. History always repeats itself because humans reactions have not changed over the past few thousand years.
Anyway these are my personal opinions and does not constitute to any trading advice. DYODD and happy shopping (for cheap coins especially steem)
If you like what I wrote, pls upvote resteem and follow me. Thank you.
