STEEM has all the right stuff to break it's old all time highs

A lot has changed with steemit.com and STEEM since the last time it was around these levels, trading firmly over a dollar.

Most might think that it's impossible for STEEM to get back to those old all time highs, but I don't agree.

This is how STEEM gets back to it's old all time highs and beyond:

(Source: https://coinmarketcap.com/currencies/steem-dollars/markets/)

This means that when people earn SBDs and they go to the internal market to sell them for STEEM, they are soaking up 10x the amount of STEEM that they normally would if SBDs were priced at a dollar.

And if they are swapping SBDs for STEEM, they are probably powering it up which removes STEEM supply and puts buy pressure on it.

We've seen it happen time and time again with STEEM where a pump in SBDs eventually leads to a major pump in the price of STEEM.

Back in late November early December of 2017, we saw SBDs get as high as $20 several weeks before STEEM eventually ran from a dollar to $9.

No idea if history will repeat exactly like that but with so much money sloshing around right now, if SBDs stay high and STEEM can get some momentum, there's no reason it can't break it's old all time highs.

What do you think?