Will STEEM hit $10 during the blow off top portion of the Bitcoin bull market?!
The charts point to STEEM going parabolic when bitcoin sees its blow off top
My assumptions are that bitcoin hasn't topped yet during this current bull market.
While I admit that the to could have already been in, there are many reasons to believe that the top is not in yet.
I won't get into those here but if that is the base case, what does that mean for STEEM?
Well, based on this chart I think it means very good things...
(Source: https://coinmarketcap.com/currencies/steem/)
While the chart may point to new highs at some point, I am not sure that happens.
If we compare the current consolidation the previous one back in 2017, it's roughly half as high.
If we continue with that "half as high move", we would be looking at a top more in the $4-$5 range.
Not too shabby, but still no double digits some are hoping for.
Given the amount of money in crypto currently though I don't doubt that it could in fact see a new all time high and $10 left in the dust with the right circumstances.
Either way, we should see a big move up from the current levels.
The fact they are holding SBDs up still tells me we are far from over.
Any idea who is pumping SBDs?
The big move should come later this year.
BTC having trouble going up on this news may mean it goes lower first though.
Should have seen a bigger bounce with the el salvador news.
I'd take STEEM at $3 at this point.
waiting for that moment
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