It's a loop: lower price is less users and less users might reflect price :-) But it's never the full story and I'm very sure Steem is incredibly 'ready' to go UP in the next bull market :D
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That's the catch... If the project/love is great, there is no need for money.
People are on FB, Insta, eBay, Amazon... because those are great digital products.
The fact that people are following the price is proving that Steemit is not a good product. The same goes for any other product, food, cars...
Additionally, one could see the last weeks that with higher volume the price dropped. This is normally the other way around.
This happens when single persons/institutions (steemit inc.??? - they removed a lot of steem) sell large amounts at no matter which price to get some fiat money and pay their bills.
Hopefully, we will see this turn around soon again. I'm thinking of investing again at this much too low price ...
Hehe - wise man! Yes, Steemit Inc is selling huge chunks still unfortunately. I personally hoped they would stop that when they started earning some money from the ads they display on the platform nowadays :-)
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