While some are worried about the pullback we are experiencing right now after rapidly increasing to 8$ overnight. I know this is actually a healthy correction that we need to go through before we can start a new uptrend again. I expect this downtrend to continue for the next couple of days with the price never going below 5$.
After STEEM finishes correcting I think we should be able to go past 10$ for the first time in history!
If you followed STEEMs uptrend you can see that we are missing 90M from the 24h Volume and about 350M Market Cap. And no this doesn't mean that it's crashing and we will go back to 2$. It's just a correction! A much needed break after a such a huge price increase of more than 300% in 2 days there must be a pull back.
A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or a recession, but it can be a precursor to either.
Read more about market corrections here
Never get scared of corrections and FUD, corrections are normal and are a healthy answer for such a huge uptrend.