Nice post and deserves an up-vote. I am not overly concerned about the price as STEEMIT is being played in the hands of the short sellers. It's way to earlier to do any real Technicals on the price movement. The $/STEEM price could rocket in a blink of an eye when the short sellers close their trades. Same thing happened to Bitcoin in 2010 when it went to $0.10..!! Following and looking forward to reading more of your posts. I joined STEEMIT a few weeks ago and I have seen a remarkable increase in the quality of posts. An amazing concept. I recently posted a couple of articles about STEEMIT, the future of BLOCKCHAIN, Social Media CryptoCurrencies, and one about Dan & Ned. You may find them interesting to read. You can also catch us Twitter✔. Cheers. Stephen
Earlier this month there was steady support at $0.80ish. Given how much the market volume changed, I thought that was odd. It'll be interesting to see where the actual support is for the price of Steem...
Thanks for sharing! This looks like someone is preparing for some kind of HFT given the liquidity and selling pressure during powering down cycles. Probably there is not much that can be done about it but it can be a profitable venture if those orders are filled.
Possibly yeah, its really hard to tell whats going to happen next - but knowing theres ~200k SBD being converted this week (My theory: its everyone getting spending money for steemfest) is a bit of a worry given how the market looks already..
I didnt mean from the steemfest account directly, I got the 200k figure from @masteryoda 's report as the total amount of SBD-STEEM conversions qued up for the next 7 days.
I know Steemit Inc. is pouring in some Steep Power to the SteemFest participants, but they do that directly Steem->Steem Power from what I understand. And the fest is 2 months away, there;s plenty of time to get that steem for them.
As to the overall conversions, I think SBD turned to Steem is actually good as it removes the pressure of backing it up?
When SBD is pulled out towards exchanges, that needs to raise some worries.
I am personally powering down and immediately turning it into SBD. Waiting for Steem to go down and then buy it back.
They may be trying to catch another @dantheman "fat-finger error"
Spot on ;)
Damn I completely missed all of this, upvoted but cant edit the post :(
Nice post and deserves an up-vote. I am not overly concerned about the price as STEEMIT is being played in the hands of the short sellers. It's way to earlier to do any real Technicals on the price movement. The $/STEEM price could rocket in a blink of an eye when the short sellers close their trades. Same thing happened to Bitcoin in 2010 when it went to $0.10..!! Following and looking forward to reading more of your posts. I joined STEEMIT a few weeks ago and I have seen a remarkable increase in the quality of posts. An amazing concept. I recently posted a couple of articles about STEEMIT, the future of BLOCKCHAIN, Social Media CryptoCurrencies, and one about Dan & Ned. You may find them interesting to read. You can also catch us Twitter✔. Cheers. Stephen
Earlier this month there was steady support at $0.80ish. Given how much the market volume changed, I thought that was odd. It'll be interesting to see where the actual support is for the price of Steem...
Thanks for sharing! This looks like someone is preparing for some kind of HFT given the liquidity and selling pressure during powering down cycles. Probably there is not much that can be done about it but it can be a profitable venture if those orders are filled.
Possibly yeah, its really hard to tell whats going to happen next - but knowing theres ~200k SBD being converted this week (My theory: its everyone getting spending money for steemfest) is a bit of a worry given how the market looks already..
I just wish I had more funds to buy the dip :)
me too... :)
200k SBD? I see only about 20k transfered to exchanges from the @steemfest account...
I didnt mean from the steemfest account directly, I got the 200k figure from @masteryoda 's report as the total amount of SBD-STEEM conversions qued up for the next 7 days.
I know Steemit Inc. is pouring in some Steep Power to the SteemFest participants, but they do that directly Steem->Steem Power from what I understand. And the fest is 2 months away, there;s plenty of time to get that steem for them.
As to the overall conversions, I think SBD turned to Steem is actually good as it removes the pressure of backing it up?
When SBD is pulled out towards exchanges, that needs to raise some worries.
I am personally powering down and immediately turning it into SBD. Waiting for Steem to go down and then buy it back.