The dumpening is coming… but there is a brigt side

Exactly 21 days ago today I wrote that the price of steem will crash but that is ok, I also predicted a new low for Steem:

“Power Down in 13 weeks instead of 104 just means people who want out will no longer have to wait 2 years to do so, price will probably go low for a maximum of 13 weeks then it will recover. There is going to be a lot of room to pick up cheap coins, my expected low is $0.05 per Steem.”

I am not sure why some “experienced” traders continuously stated that “nobody knows what will happen after the fork”, it was obvious that if the volume stayed the same the price was going to start sinking given the increase in liquid steem. Maybe some traders based their analysis on the charts alone, but in crypto everything is transparent, unlike Wall Street you can see who is going to power down and predict if they will sell just by looking at their previous actions, so its very easy to assume that there is going to be a ton lot of Steem hitting the exchanges tomorrow.

Now, I don’t think this is a bad thing, on the contrary I can see the dumpening bringing some very possitive side effects:

• People who are disillusioned will sell and quit in 3 months, they are not locked in anymore and they can move on to do other stuff, no need to stay and spread FUD or go on a flagging crusade.
• The dumpening will bring better distribution, at the moment top 50 accounts hold most of the steem and thus most of the voting influence, we need some of them to sell and we need them to sell low.
• We are going to see a lot of stupid dumps, people selling their stash all the way down. This is good for traders and speculators who can place ridiculously low bids and benefit from the instant bounce.
• You can sell now and buy back in a couple of weeks for cheaper, therefore increasing your Steem position.

So if you are depressed about the price going down, remember that there is a always a positive side to every situation and being able to take advantage of those shitty situations is what is going to make you successful in life.