Finally we got a breather after the BTC correction destroyed our nice little uptrend to 4$ two weeks ago. Bringing STEEM price down all the way to 2.2$ we had a tough week behind us but overnight Steem gained 500M in Market Cap and 70M in Volume increasing it's price to 6$ per STEEM!! What a great way to end the downtrend and start off the New Year, isn't it?
STEEM Market Cap
Last 24h
SBD might not be doing as well as STEEM but is still increasing nicely
Last 24h
While currently at 9.7$ we've had a high of 11$
I can't tell what is causing this and how/why we are getting such huge volume spikes but I'm not complaining :) If you know what is behind this please leave a comment below. If not hit the resteem button so we get more eyes on this. I would really like to know and I'm sure that I'm not the only one.
Best anwsers will be highly appreciated and rewarded.
It looks to me like big players from the shadows are manipulating the market so they can acquire those gains 💲💲💲
Just imagine the profits they can take now, since Steem pretty much doubled its value. I know you know what I mean. Keep in mind for example that you can power down 50% of your Steem now and it would be the same like you powered down 100% few days ago...
On the other hand, if I'm correct, this is positive news for us all as another correction will apply in the future, and we will have those discounts once again available to us, little people 😋
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Not sure if that's the case because as we seen with the SBD pump lately it's much easier and cost effective to raise the price of Steem through pumping SBD.
There are 240M STEEM but only 4.5M SBD remember that.
Let's say they did pump 80M into STEEm right now, the price would drop to 2$ if they decided to cash out so I don't see how profitable it would be for them to do so. It must be something else.
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You pretty much answered your own doubts. Yes there is 240M Steem and 4.5M SBD, meaning, big whales can profit much more if STEEM is pumped since they have much more STEEM than SBD, you do understand some whales have few M of Steem? Meaning it is in their best interests for Steem to go up, and not SBD.
Who has few M in SBD? We both know the answer.
Now do 1 more math equation, if they cash out while Steem is 6$ and cash back in when it hits 2$, do you think that is a profitable move or a non profitable?
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I'm not doubting if it's profitable or not just saying it would be much easier and cost effective to do the same thing with pumping SBD instead of STEEM.
Much less money needed + better returns.
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According to @exyle he said that steempower is highly in need and liquid steem keep on going down everyday by day .And he kind of predicting that steem will going to rise and fortunately it has happened the way he said it.
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Did he give a further explanation on it or just stated that there is a big demand on SP right now? Could you link his post?
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I do not know what causing this rise in price, but my 2 cent opinion is that STEEM has been undervalued for some time. It is one of the best blockchain, no transaction fees and it actually solves real-world problems, specially in poor countries.
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I know, that's what I thought at first but that surely can't account for 80 million dollars being thrown at Steem in the past 24 hours :) There must be another reason.
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Love the animation. I wonder if it's pumped too high too fast. A consolidation period would be good to see followed by a resumption of gains.
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seems like it's already correcting. 10$ soon? let's hope so :)
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to the moon :DDDD
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Actually it was a crazy moment! But we all predicted for this amazing moment and now it's happening. Hope it will be reach $8 Soon.
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Like I commented on one of your previous post about having the feeling that steem has more potential than SBD... I learnt sometimes in 2016 towards the end of the year steem went higher than SBD so I just have the faith in steem
I believe in demand and supply also if the demand of SBD is higher than steem the price should be higher but toward the end of the year people are trying to be on the safe side and converting their SBD to steem or selling so since the demand for steem is getting better the value should go up... My opinion tho
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We expect more from the steemworld..... Yeah! kuods to all steemians, your contribution really worked, still working i'm confident will keep on increasing. Hopefully, we all achieve our dream this 2018.
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It's good to see steem and steem dollar price increasing. ✌
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I see what you mean, not to set my posts only to steem. Though I understand steem to be like clout, and a big factor in how much we make on posts. So much to learn! Thanks for the tips!
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Hi, good day! May I know why you downvoted me regarding my call for help for people to support The Kidney Project? I was just trying to tell people that they can actually help people that are sick with kidney failure all over the world by supporting the Bionic Kidney Project by UCSF and I did not really intend to offend you or anyone to deserve a flag. Please let me know which part of the post displeases you so I know how what I did wrong in a post that I thought was harmless. I'd appreciate it if you'd give me an explanation though part of me hopes it was a wrong click. Thanks.
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Glad you wrote me, sorry about it. I usually go through #introduceyouerself to curate good posts and remove bad ones. I must have missclicked yours, fixed.
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Will lovr yo see more of tbis real
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