That's a good point. I'm looking for some of the larger users to be shaken out and take a chunk out, with that much supply hitting the markets we should see a nice spike lower. Bulls will squeeze the bears for the best price, that much is clear.
One good thing is that with the reduction in inflation the bulls won't be fighting an extra 5% steem per week. It will be carnage however, if everyone powers down the markets will need to absorb almost 8% market cap per week. Can't see bulls handling that straight off the bat, but a few weeks in with more liquidity it makes sense.
I'll personally be getting liquid and wait to see where I can accumulate once prices reach an equilibrium. Exciting times!
@recursive has a good take on the fundamentals https://steemit.com/steem/@recursive/feedback-on-dan-s-economic-changes-proposal-all-good-but-the-3-months-power-down-of-pre-beta-stake-is-a-giant-blunder