BTC price isn't purely speculation... Same goes for Steem. Their value is not worth only what people "want" to pay for it. So many people act as if crypto were a savings account for retirement or stock market, but it's not. They never cared to understand it, so no wonder what's happening is shocking to them.
Mining, mining fees, transaction costs, the optional memo, practical use cases! Do you know why all of these exist? Not why you use it, but what can be done with it? Why it has been designed this way? Most holders will say "no". What if I told you miners control when prices are likely to go up or down? Would you be interested in that then?
I'm just saying, odds are a whale sold enough crypto to cause a crash. You know, the truly gigantic whales, who could easily buy all of the available Steem Power if they wanted to. We're left waiting until miners fix prices.
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