Markets be like: gimme them cheap coins yo
"Hey institutional investors, we got these cheap penny stocks here where 90% of the people don't know what they are holding while the 1% is cleaning them out from bottom to top and back over and over because this halvening thing happens once every 4 years and 'you know what?' don't worry about it just use your endless fiat and place those shorts to get them all to sell, the volumes are quite low now anyway since the institutions are waiting for Bakkt and Fidelity to buy these up more safely."
In the mean time, companies and the people holding these tokens have been relying on the price not going down this much.
Steemit be like
While some people have been going away and won't be hearing about crypto again until it's on the news with a new ATH that's when they will come back to invest and stick around cause somehow it's hard to grasp when to buy in this cycle that literally can't be stopped by anyone. Even when the prices are dirt cheap the community interested in seeing what could happen with this experiment called Steem if things were to work out will stick around and buy more. We've already seen posts of data showing a growing "middle class" which will do wonders for distribution and not to mention all the projects being built, growing and working so fast regardless of what has gone on with the price. Competition is building and I know many people who are so busy daily using Steem and all existing apps they enjoy. Compare that to the dapps on ERC-20 who maybe have a total of 20 real users active through all of them, compare that to EOS that has more gambling dapps on it as if it's trying to reflect on the same risk it had as an investment.
Here people are invested in the blockchain, they use it daily. There will always be people that will come and go and I wish I could tell you there were many other things than the prices that would get them to stay at this time, what I am seeing though is so many dapps starting to understand "hey, we can't rely on price and on steemit delegation to power our dapps, sure it's called steem power but let's build our own! There are plenty of rewards still coming out of the rewards pool, if we get enough people to use steem because of our dapp, they will stay here and earn rewards on Steem as a bonus!
I understand many are afraid that steemit would go down since that's the main and only front-end to use, but Steem would be fine. It can't get much worse than this, if you look around you how many from the platform know what time it is, that it's time to accumulate and regenerate cause Steem is going to be fine even if some dapps fall off. We proved it with @vimm that was created even before the other streaming platform took off to try their own luck. One thing people need to look at is the amount of dapps that are being built on Steem, now I can't say this for a fact but to me it seems there are more being built here this year than before the run-up to $8 and slightly after that. What do you think it looks like on the other blockchains right now? I like to check up on them and I can tell you that there is not a lot going on.
The money that may or may not be coming in soon from so called "institutional investors" will hopefully be doing a lot more research than what the majority did in end of 2017. There won't be as much fomo going on anymore the same way it was back than where you could go through the top 1000 coins on coinmarketcap and you can see them all having been gambled with without many even caring if they are going to go anywhere, but the astronomical levels Bitcoin has already gone to since it's early days where you could buy one for half a cent made it worth gambling on that any of the other 1000 could share the same fate thus are worth placing value on. I am certain that these people are not just looking at Bitcoin but when history tells you that Bitcoin has been the first to go back up people are more inclined to bet on that. Who knows if it's going to be the same this time around, though? Not many know for sure.
People like saying Steem is dead but that just tells me they don't know what it looks like on the other chains. Not only are they on very low activity but the majority are running on old rusty tech that needs a lot of upgrading to keep up with the pace of this innovation.
If this is the only way this could work out for this companies decision then alright, let's go from here and change things up a lot. I just want people to think about their situation compared to the hodlers and people relying on crypto from other blockchains where they're either holding hardware that's mining at a loss or just holding coins that don't stake or give you any influence on anything but holding them in a wallet and losing out on crypto monthly to people who can invest their crypto and use it daily and guess what literally get a payment for that directly to your account without middlemen without exchanges taking a 25% western union cut and without fearing that their account will be banned for no reason at any point they may say something the company doesn't like.
If this leads to an even lower price of Steem then bring it, we thrive on a better distribution. Curation did not help with that a lot there but this sure will. People on Steem are not just buying it, they're buying services to get on trending often at a loss even.
Bring it on, let's see what happens when our blockchain has the best distribution out of all the other ones. :) If not then you know, it takes time, there's always gonna be people selling and going on with their life. Steem may need more cycles. Just remember though that the majority of blockchains that are so called "dead" if you try and sell your bags of those coins - there is not someone waiting on some of the biggest exchanges in the world to buy them.