https://steemit.com/steemit/@magnebit/steem-price-is-being-pushed-down-by-1-person-speculation-on-why-and-where-it-may-end-upThe market is being pushed down by the user @steemit. I don't think so.
All orders are placed at or above price on coin market cap. These orders are helping to maintain the steem dollar peg.
Proceeds of these sales are kept as steem dollars which keeps value in the platform while helping to distribute steem.
By @danthemanThat move is expected and In my opinion desired for the following reasons:
*It helps even redistribute Steem Power
*Keeps the price relatively low or what I'd consider normal for new users to buy in and invest
We are still in beta and everyone knows that the power holders(aka "whales) are few and hold most of the steem, if they "hold" on it, they will continue to be the most powerful ones in the platform so powering down is very nice of them as they are "giving up" on their influence to leave space for others to take the spot, making the system more fair.
By @minionI prefer to think this action is part of a plan to better re-distribute Steem to a wider user base.Suppressing the price is by far the most effective way to better re-distribute Steem. No-one will consider investing to become a whale if it costs them half a million dollars. Now if it costs them ten times cheaper, that's a more reasonable deal.
by @recursive
