Happy to see steem pumping.
Any idea why?
Steem is pumping, why?
6 years ago by knircky (73)
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i think its because steemapps.com
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It fell wayy lower than it should have!
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There were a few minnows powering up to dolphin, some were waiting for cheaper prices... if they think it's not worth waiting any more... could lead to some FOMO!
Remember FOMO? The good old days
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Why not?
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Speculation, as always, although the Steem has broader ups and downs, as always.
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Apps, Daaps....
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Being on State of the Dapps could be providing a great platform to demonstrate our great ecosystem and could have led to some interest. Could also be the powerdowns are ending and the sellers have gone away for the Holiday weekend...
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I saw a similar rush for one month ago. Up (and down) with 15-20% in some days. So maybe this will be a correction and drop tomorrow.
I do not think it is dapps - more speculations
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Steem is stake based coin. Out of 280 mill steem only 80 mill are liquid.
Out of that around 55 mill is on exchanges.
The poor liquidity means that in a bear market steem will go down faster than other coins, as it did.
Also in a bull market it will go up faster than other coins.
At least that is the theory :)
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I'd say it's the past reasons blowing up. We had so many reasons to see a rise in prices but STEEM kept going down. We had few very good things like
https://www.stateofthedapps.com/
https://www.prnewswire.com/news-releases/more-than-50-000-nsfw-tumblr-blogs-were-archived-by-the-partiko-team-this-week-300767900.html
We are also doing very well on this award vote on https://www.cryptoinfluenceaward.com
Let's not forget that ETH pumped more than STEEM. So there is clearly a lot of speculation and people finally giving it not the past positives they had seen. It's like everybody running for Gold when they hear a crash. We also used to have a low volume. It's easier to pump. I guess the starts aligned and we ended up with this.
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I have no clue as to why. In the back of my mind I was thinking it was a small pump and dump but it seems to be holding. Steem is much easier to earn when the price is low so I am in the small group that would like to see the low price continue for another little while yet.
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Bro day by day its pumping, we are so worry about it.
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I am wondering as well...
Maybe the TA people saw something in the charts
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