I wrote a few days ago about seeing a bullish future for STEEM, but today it took another plunge to prices not seen since April 12th 2017.
It was announced yesterday that next month Steemit will resume their "programmatic" selling of large amounts of STEEM. We have had a break from the price collapse for the past month, while Steemit's constant currency dump was paused.
Now, it appears the downward slide has resumed along with the selling.
Of course, this could just be a temporary drop, maybe a fakeout, before a price recovery. Perhaps dissatisfied whales and bitbots are selling their stake, putting extra supply on the market? But if that's the case, hopefully it will get gobbled up by some stronger hands, people who want to curate responsibly.
I've still powered up and saved everything I've made here, and same with all my team! We've put thousands of dollars - and hours - into the Steem blockchain over the past 2+ years, and it should be clear that we believe in and support this community.
If there's a proper price recovery soon, those of us who made it through this winter are going to feel so glorious!
DRutter
