SUPPLY and DEMAND of STEEM
As a MASSIVE FAN of STEEMWHALES.COM I highly recommend those that have yet to have a play around on their site they spend a few weeks getting to know the data.
When I first joined STEEMIT of last year I must have spent the first 8-12 weeks playing around and rummaging deep into the data that was available, like a child in a sweet shop.
Earlier today I was having a good dig around and there was something bothering me about the price action of STEEM over the last 6 - 8 weeks and I just wanted to share this with you and see if anyone else has spotted it?
SUPPLY and DEMAND
There are so many people that appear to be getting their heads wrapped up in knots trying to understand the mechanics of how STEEM is valued.
For me it is very simple.
It is purely SUPPLY vs DEMAND.
If there is an abundance of SUPPLY and NO DEMAND, the price will likely go down.
If there is a MASSIVE DEMAND and little SUPPLY, the price will likely rise.
SIMPLE QUESTION
My question is therefore very simple.
Is the DEMAND for STEEM exceeding the SUPPLY of STEEM? These two charts would suggest so..!!
Has anyone else noticed this?
Thanks for reading.
Stephen