They flew too high, too fast. And now they're crashing down.

when people mass buy keys from the market during holidays and valve adds a one week no trade period, after the week ends, we have a mass amount of sellable keys, more than buyers. Then prices go down. Its a system of supply and demand. The supply and demand was consistent during the steam winter sale, however, during the sale, many keys were bought. Increasing the supply while not reaching the demand because of a one week grace period. Finally, when the supply can be open to the demand, there isn't enough demand, so the supply has to slash prices to keep up with demand.

Keys value have, IMHO, been at around 10 refs for about 4 weeks, or so. This was not reflected on key market where traders are against giant traders.

XMAS COMES.

>DISCOUNTS ARE COMING

>Traders Need Cash to buy games for cheap and sell for higher when discounts are over.

>Traders Sell keys on SCM.......................................>Traders Convert everything into keys. Items and stuff.

>Traders get cash and buy discounted games.........>Demand for keys increases

............................................................................,,,,,.>Price increases as demand increases

Buying SOME games for keys is CHEAPER than buying for $

>Customers want keys to buy games for keys.

>Demand for key rises

Now. Xmas passed. A REASON for them to go UP disappeared. Now it's just returning back.

Can we get a screenshot of the trade for proof?

I'm not sure that keys falling means that ref will rise. The amount of ref in the economy hasn't decreased and is still getting larger principally thanks to ref farming etc. That inflation is still a long term structural trend in this economy.

removed it, didn't see the time created

panic about what? 17 was a really good insta-sell, hell, thousands of people added me and spammed with trade offers when i sold 1 for 17.33, oh well.. rip

I bought a few keys yesterday and a few keys today. Even yesterday at 14-15 ref, I had to add two sellers for every 1 key, because around half of them were just attempting to manipulate the price and had no intention of selling me anything. And the very first link I checked from your suggestion is also someone who is attempting to manipulate key prices.

Now on what basis are you saying that there aren't many manipulators?

You don't need plenty to manipulate here. I was there today when keys literally jumped from 13 to 12 ref in classified listings, because about 6 people listed their keys at 12. There are a total of 2 listings between 12 and 13 ref, and those two came to life after this.

6 people was enough for people panic selling to see the visual representation of the key price on the stats page, and it was telling them: "Half the listings are at 12 ref already, better list it at 12 or even lower too, else I'll never sell my keys before it's too late"

Perhaps backpack.tf doesn't want to be influental, but it is so very much.