Recently, with the up of bitcoin, most of the currencies increased in value and steem was no exception, I was even surprised that recently in 24 hours it had a volume of 500 million and step of 0.52 $ (0.00001122 Satoshi per steem ) at $ 0.79 (0.00001452 Satoshi per steem) having an incredible volume increase.
Today I look at the price of the steem and in the last few days it has lost $ 0.15 equivalent to 0.0000033 Satoshi in its value up to this point I understand everything perfectly, my question for the teachers and I hope that someone will answer me.
These are my two questions:
- Does the volume influence the price of the steem?
In case the volume influences the value. - Because the volume went from 500 million to only 19 million, losing almost a large percentage of its volume and did not significantly influence the value of the steem.
These are things that I do not understand about the markets because I have seen other currencies have an extraordinary volume and suddenly the volume begins to fall drastically and does not affect the value.
Thank you, I am waiting for an answer to clarify my doubts.