Steem laid off 70% of manpower. Is this a Buy or Sell signal?

I’m in the middle of making a decision whether this is the time to get some seemingly cheap Steem at around $0.30 and our dear Mr Ned boomed the community with a huge laid off news for the STINC, the backbone of the decentralized Steem community.

• Great and bold move by the company to make that announcement especially in such a market where everyone with fragile and sensitive nerve. Hats off to that kind of courage and transparency which the blockchain folks value so much.


• How would this announcement impact the Steem price? At this point of writing the overall market seems like recovering hugely from the previous consecutive crashes, including Steem which has raised 20% and sitting around $0.35 now. We can’t tell by now.


• I guess it would be a big trigger for the weak hand Steemian to start power down and getting out of the sinking ship. And I assume weak players always take up the majority portion of everything.


• If that’s true, Steem shall keep falling due to the selling activity which is like to happen in the next couple of weeks.

Alright, I decided not to pull the buying trigger now for above-mentioned reasons. Another honourable reason is that I have a tight pocket with fiat now. LOL.

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