I agree partly. I think we will even go higher than .50 and than the price will start going down to the levels we see now. as most supply is controlled by steemit inc (employees founders etc) I dont see more steem hitting the market . everybody will wait before selling out on the next moon phasse
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50c is a big psychological resistance point, especially coming off like 10c just a few weeks ago. I think if we could make it this week for like a month, it could potentially break through, but it might be a hard nut to crack in just a week.
As to the amount of steem hitting the market, think of it this way. If 75% fewer people (weighted by steem power, obv ) continue to power down after the HF, thats still twice as much new steem hitting the markets every week. And 75% less seems pretty optimistic to me.
All that said, i don't think a really big sell off and a really low bottom price is necessarily a bad thing. It will give serious investors a chance to achieve parity, and maybe even improve content.
dont forget that ned and dan stopped powering down for 3 month now. I think that we will only know once they start powering down again!
my prediction is we will break the 50cents within this week
Yeah, not sure if that includes the steemit account or not. ANd also not sure how i feel about that (though they pretty much were obliged to). In a way, i think it would be better, long term, to just rip the bandaid off as quickly as possible.
TBH, i actually think that breaking 50c in the this week would be bad in both the medium term and the long term.
In the medium term, the bigger the gains we have right now, the bigger the immediate bounceback is once more steem starts hitting the market. If steem goes up to 50 or 60 or whatever now, then quickly back down to the high teens low 20s once the powerdowns start to hit, its very possible that many will view that adjustment as the starting gun for a race to the door -- the signal that all the whales (at least the ones who arent pledged not to) are powering down and selling so i had better too before the price tanks completely.
If it continues to hold in the mid-higs 20s now, then bounces to the high-teens low 20s level when the new powerdowns start to hit, i think people will be more willing to hold and give the currency a chance to appriciate in value before they sell.
agree. but I think we will see a pump close to 45-50cents range end of this week.