The first reason:
Bitcoin crashed from $19,000 to $6000 this made the value of Steem going down. This has effected the whole market not just Steem. The reason why there has been a huge effect is because we have a very small exchange spread. As well there being no fiat to Steem spread.
The second reason:
The second reason is because we have been waiting on v.20 updates for a year plus. These updates would allow the spread of coins to go too thousands or millions of users, but the update isn't out. This would allow account creation to be much faster.
People are so concerned about whales and bots. Their power and rewards would be spread out to larger amount of users. This would force large stake holders to buy more steem to keep that influence, this increases the price for the asset.
The conclusion:
The more users we have the better. The more people you feel are abusing their power will have to buy more stake to effect people. This will increase the price guaranteed and will have weak hands leave.
People are making it seem like our network is weak, the network isn't weak at all its just the tools we need aren't done. V.20 is our golden goose. But smt's as explained for the next update after v.20 are useless unless we have fiat pairs. Fiat pairs and v.20 is what the community should be focused on.
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