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RE: $BTS/BTC Daily Poloniex Technical Analysis / Market Report Update #13, Dec. 4, 2016.
So what does all this mean to you after the hard fork ? I would like to hear some opinions !? Will steem keep going up? What is the consensus? Thanks ! Steem on ! ♨👍😉♨
well, It might mean more volatility, in case of whales not powering down, the price would go up, in case of whales powering down we would probably see an even harder downtrend for some time, furthermore, I do not include my opinion about it into the TA, I base it on the charts and charts only ;)
Ok thanks! I dont know anything about graphs and charts or markets ! Steemit is my first time learning all this , like alot of us its hard to understand so im hopeing someone with more experience in this stuff would have an opinion as to what we should expect. Thanks a bunch ! Steeming on ! 👍😉
well , hardfork (in my opinion) can influence the price in both good and a bad way, but that's up to how the users react to it, if many start powering down their STEEMPOWER and then start selling those STEEM on the market, it will make the price go down, despite the cut in the inflation, because there will be allot of sell pressure at that moment(the powerdown period is now 3 months instead of 102 weeks, which means people will be able to get more STEEM out of their STEEMPOWER on a weekly basis = more sell pressure). On the other hand if we see the users not powering down, but keeping their SP intact, the cut in the inflation will make the sell pressure dry out, which would then most likely cause an uptrend.
Bottom line, it is not what the update is about or how good it is, but rather how the users use it. Furthermore, in a longer term view (let's say a year or 2), this hard fork should result in a upwards trend to the price, but in a shorter term of view it might be devastating as explained above.
Hope it helped:) if you have any more questions don't hesitate to ask @karenmckersie !
Thank you very much for the awesome explanation ! It helped alot ! We will just have to wait and see ! Im a totally steem power up as its an investment for me ! So fingers crossed i can retire early ! Thanks again @ozmaster , I am now a follower ! 👍😉steeming On ! ♨👍♨