It could be lot of reasons besides more sellers than buyers.
First things that come to mind are the looming threat of a Bitcoin hardfork and ICO's cashing out.
Even though the Bitcoin controversy isn't even imminent. Investors are spooked by the uncertainty. I believe the official signaling begins August 1st. and a solution won't go live for another 3-4 months.
A lot of new money has come into the crypto space and alot of that has gone into ICO's. These billions of $ in crypto held by ICO's need to be cashed out to pay for bills and expenses.
I also believe that ETH could go to $500-$800 this year but Bitcoin will also have to move up substantially. In turn raising the other crypto's with it. I also have some concerns with Ethereum and all of the new code from ICO's that could be another DAO event just waiting to happen.
It may not look like it now but I also think that STEEM could do a 10x this year.
Yeah, I mean that's a good point about Steem. The thing is, all the cryto's are interlinked, so like you said, we know BTC will go back up, but so will other coins along with it.
I think to keep things simple, just sticking with Steemit for the next 12 months would be the easiest bet. Put all time, money and energy in and you are bound to get a decent ROI :P
Hectic times. Thanks for the explanation.
oh yeah I definitely agree. That STEEM could be the best bet overall. There are so many options and so many distractions.
Sticking to one could make things a little easier to manage.
100% agreed! Let's go!!
I hope this platform is ready.. Because I'm jumping straight in!!!