Looks like price of STEEM is being pushed up for a subsequent sell-off first pushed to over $1 USD a week ago and then earlier today to around 1.02 USD before sell off, lets hope its the end not the start.
STEEM being Pumped and Dumped
7 years ago by isacoin (64)
$1.59
- Past Payouts $1.59
- - Author $1.30
- - Curators $0.29
54 votes
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I've been rather cynical about the steem price lately and I think it's purely because of the high Bitcoin price, when I see a crash happening in BTC then I think we might see money go back into steem, maybe something will happen after new years? We'll see.
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Agreed.
New Years could bring $10k who knows?
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I dont think so the price of bitcoin had already been rising a few days before price of Steem was pumped
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Well I'm thinking historically speaking, altcoins always rise when there's a Bitcoin price crash, I'm holding my steem long term though so we'll see what happens.
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Yes there was lots of profit saving in the past to the top cryptos but with profitability of mining and speculation in alt-btcs they will be taking a significant portion for now
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I was hoping STEEM would go up steadily by now, this is me being optimistic about new announcements during the steemfest. Good thing i wasn't able to buy early this week (thankfully for polo's locking my account). I still think there will be crucial announcement later this week before the steemfest is over... and they want to gain more from that pump and dump before a stable increase. just my 2 cents
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dont really see much that would lead to price increasing i personally think steem is being devalued due to accumulation by reward pool abuse by high sp users and voting groups and there doesnt seem to be much happening to curtail that.
also pump and dumps are never good it creates a false perception of price in the markets and the little guys are the ones that get hurt.
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IDK what Pumped and Dumped means, I never saw anyone doing it. Still my opinion on the Steem price falling lately is that maybe it's a combination of Pump and Dump and the rising Bitcoin price.
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this is what the chart shows
volume dies down and price rises and leads into selloff this is some holders effecting the price to gain
this started after bitcoin price was already rising so isn't directly correlating with bitcoin price
steem isn't an asset tied to bitcoin, bitcoin price should be irrelevant unless people are selling to buy.
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All cryptos are tied to BTC. Most folks invested in cryptos are in BTC, so when BTC is rising they sell their alts to buy more.
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not necessarily,
i dont think any crypto is directly tied to bitcoin and are only traded as a pair if this were true gains and loss would be closer to equal in alts to bitcoins price.
here is an example from coinmarket.com gainers that shows many gaining even though bitcoin rises.
cryptos are free markets that move independently based on market sentiment,development and utility of each.
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by isacoin from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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This post has received a 0.03 % upvote from @drotto thanks to: @banjo.
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You have collected your daily Power Up! This post received an upvote worth of 0.19$.
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nice post @isacoin
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