Last night when I went to bed I checked the price of Steem and it was sitting at about $0.89 and the 24 hour volume was around $1,000,000. When I woke up this morning it had shot up to $1.18 which is an increase of over 30% and the 24 hour volume was at over $10,000,000!
Of course as a Steem stacker this is great and I am very bullish on the future of Steem but I'd still like to have a better understanding of what causes huge spikes like this.
As a young currency with relatively low volume Steem can still be pushed up or down by either a large buy or sell order.
Question: Where on The Block Chain Can I See if There Was a Large Buy Order Recently?
I's like to be able to understand the market better and I hope that one of you can point me in the right direction for access to this type of information. In the meantime enjoy the increased value of your investment of time and energy in this amazing platform!
Until next time,
@kus-knee (The Old Dog)
It looks to me like the Korean exchange upbit listing both steem / krw and sbd / krw for the first time just a few hours ago is responsible. New money getting in finally. Kakao, upbits parent company, has a relationship with bittrex as well which explains the huge volume there, while it is much lower elsewhere like on polo.
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Basically, what @mk40 said... Upbit is one of the world's largest exchanges and they just activated Steem and SBD earlier today (November 22nd, Korean time)... opening up a whole new set of markets. Which also gives me hope this is more than a quick pump and dump.
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@mk40, @denmarkguy thanks for this information. I thought it was just a short-term speculation, but now I have a little hope for the long-term effect.
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It's great to get such a quick and accurate reply. Likely someone has written an article on this development so I'll have a snoop around.
It would still be interesting to know if there is a new large holder of Steem. Perhaps one big buyer swooped in to get stake and influence!
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I agree with you completely. If you look at most of the huge swings with other ALTcurrency most of them happen to be on other less popular exchanges and when they then do get released into bigger markets they correct and then blow up.
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Thanks for this info. I'll have a further look!
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Great Observation! It will be interesting to see just the markets alone get there structure in tact. To think of all the changes we have seen in the last month between the influx of buy ins from a single country alone. We are building huge influx of traffic and we dont realize it.
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SBD is making me crazy now.
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Are you holding SBD? I often use the internal exchange and buy Steem during spikes.
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Yes I do the same thing.
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It is important to remember during a rise in the price of steem from news, that even though their might be new investors, the monetary assessment of the company is often over exaggerated from pump & dumps (creating artificial highs and low). This is natural in the crypto world because of the speed that makes it easy for pump & dumps and all transaction to happen.
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Very good points. By the way I watched your presentation at Steemfest 2 via streaming. So cool! Congrats!
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Indeed ^_^ Oh wow, thanks I really appreciate it, means a lot to me. I really enjoyed presenting it. In the past I only have been only doing hypnosis for those in my local area but now I plan on sharing more of my hypnosis knowledge and demonstration online under an account/website completely dedicate to it. Hard to make time for Just need to make time to do all of that, when people like you appreciate what I do I get even more motivate to share it. So thank you :)
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An great information @kus-knee.
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Thanks for having a look!
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Check out the graph on Steem Dollar ... was up over 200 % to $3 !!!! That is crazy. https://steemit.com/steemit/@offgridlife/steem-dollars-sbd-soar-211-now-over-usd3-wow
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Amazing!
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IF you have SBD lying around on markets u should def sell asap if you haven't done already, and take the profits.. it will go back to the 1$
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Good point!
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Si, ma il voto è sempre basso!!!!!
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Va beh. Andiamo avanti! Tenti con @bellyrub. Ha funzionato bene per me oggi.
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It is not easy to find a reason always for price changes in a global market.
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True. A few interesting theories were put forth though.
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This is a good bounce. Steemit is working fast
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someone just thought to buy some huge amount of steem :)
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It looks that way!
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Yeah I was flabbergasted also. check also SBD which is 100% higher
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That's the crypto world for you!
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no, i have seen so many things I don't undertand. I stopped with that, steem is the only one I understand for 5%
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look what my kids made for me.. so proud!!https://steemit.com/photography/@rival/surprise-surprise-18-years-together-look-what-my-kids-made
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had the same thoughts, checked my blockfolio and was suprised and needed to check for news why we are up so much.
So I hope this will be more than just a quick pump as fe monero has done very good after it got listed to a korean exchange.
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Lots of stuff happening to be sure!
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I woke up to the same surprise. While an increased demand a large buy order may have caused the rise of Steem's price. truly amazing was the run by SBD. I caught it hovering just above $2 and I knew what to do.
Dear wise old man, this is what I did to make at least 100 % profit. Please have a look. You too have more than 60 SBD in your wallet. See if you can make some profitable move with them. You can still get 1 Steem for less than 0.70 SBD. An excellent deal!
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You did great. Way to go! I should have moved on the SBD this morning but I had to go and do my real job. :)
I need some SBD to pay for contest winners that I pick as well.
Keep up the good work!
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You can buy Steem now and when SBD is down to $1 again, you can sell that Steem and get MORE SBD to distribute. You know best what to do. I am just being excited.
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I should hire you as my business manager! :) I'm so thrilled to communicate with people form all over the world that are finding success here!
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Hahaha. Thank you. That is so kind of you to say that. On Steemit, yes. Otherwise I happen to be the worst crypto trader ever.
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I don't recall seeing that sort of daily volume before. Someone thinks it's worth buying. I see someone said it's in Korea. Steemit is getting big there. I think it has to take off some time. Maybe this is just the start
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It is amazing to see what's going on in Korea. I'm all for seeing other languages grow and will do what little I can to encourage communities in other countries.
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It's very simple, this is another game of whales on "POLO" and most importantly that the SBD two hours ago went up by 200%. That's such a merry night :)
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Interesting. I guess for those that are quick it offers some opportunity.
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Its one of those double edge sword things. Its nice to see it go up, but its nice to accumulate while it low lol.
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Yes, I'm not that savvy. I've had a goal from the beginning to get to 50,000 Steem and hold. Almost there!
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Is that good thing or bad?
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Both depending if you have Steem or you want Steem!
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I am still learning to my friend. However if it is like stocks, bonds, or metals here in America it is all MANIPULATED. They can suppress the markets at will. A big entity comes in and buys or sells large orders. This can be used to adjust the price if they do not like it. In other words it is rigged here in America and there is no price discovery mechanism to gauge it. Could be a group of whales or something. Thanks.
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Yes the markets are manipulated by the big players. In this case some have mentioned a new exchange in Korea!
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Great post because I was wondering myself and in the comments it looks like it is answered!
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Interesting times to be sure!
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I am not sure that can be seen on the blockchain as it is traded on many exchanges.... But this post give a good idea..
https://steemit.com/bitshares/@kingscrown/bts-steem-and-sbd-price-of-all-went-up
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This is Openledger DEX chart Steem/USD. Can still buy at around 0.96.
Too slow when I try to put an order in and refresh, it is 1.08 ask / 1.06 bid.
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Ahh your also a BitShares person. I've been buying and holding since its inception. I originally had Protoshares.
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I bought some bitshares and OBITS in the last few months after joining steemit last July. Small amounts to learn about the market.
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It is considered very undervalued by many. Not sure if you saw this use case for the DEX.
https://steemit.com/dtube/@libertyepodcast/6jepgp10
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Will check it out thanks.
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Thanks a lot for the link. Once in a while someone posts a report showing the top purchasers of Steem.
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It is indeed a good news and hope it increases even more with time :)
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Great analysis and better news for us.
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Time will tell but I'm happy to do proof of brain and hold for the long term!
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That's the right attitude
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This wonderful post has received a bellyrub 13.55 % upvote from @bellyrub. Please make sure to vote for my pops as a witness @zeartul,Here
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I don't understand very well, as I am trying to work my brain to understand things in BTC values with a falling dollar.
So, did Steem go up? Or did the dollar devalue over 30% last night?
Anyway, this spike has been expected.
Money pours into BTC, up to the peak
Then it sloshes into all the other cryptos.
Repeat
It is like, you have bitcoin, and you know the price has peaked, Its like $7777!! Its going to have a correction. But what do you put the coins into during the correction? Well, you could put into dollars... as long as you have a working trading account that does dollars, or you could put it into other cyrptos.
That is my understanding, and it seems to be holding over at least two cycles.
Would love more infoz
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If the dollar devalue 30% you would see oil, gold, silver spike. So I don't think so. BTC went past 8300 today.
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Yeah, I agree... that you would see the spike elsewhere, but the oil, gold and silver prices are manipulated. They don't even budge when a known dollar devaluation has happened.
Cryptos are not acting like a rigged market, but I do not doubt that some people are playing it.
But, there was a BTC run up, then peak, then a little later a run up in steem
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I should also add, that I have been reversing how I see things.
So, the dollar, today, is now worth 1 / 8300th of a bitcoin.
And do that with the stock market, etc.
I also look at the stock market charts, tilting my head about 12% to the left, to see the actual chart.
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This is good news dear friend @ kus-knee, I hope it continues to rise, in some time must rise to the clouds.
Thank you very much for sharing this valuable information
I wish you a beautiful day
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very different,,,,,,,
great post.........Thanks for this information
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Great news to hear.
Thank you @kus-knee to hare this information
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Speculation is the main cause. The price touch LTL and back quickly
In my analysis the target for the short term still USD 0.33
I hope my analysis is wrong and that the price goes to USD 10
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