Historically, STEEM prices have jumped between April and July every year since 2016, when the STEEM blockchain first launched. The main anomaly to this was the beginning of last year when the price surged to all time highs, dropped to under $2, and then went back up past $5.
The first time STEEM went above $1, it fell from just under $4 to submarine under $0.20 (so farther than this time), and did so until May/June of 2017. So, potentially, 2019 could be following a similar pattern as 2016.
That said, who really knows when the markets are going to take off. Surely most of the wealth that was accumulated by the last surge is sitting somewhere. How liquid it is, and how quickly that can be accessed will be a part of the equation.
Interestingly enough, STEEM has been at or over $1 for the majority of its lifetime. Unless fundamentals have changed in someway (of which, there isn't much of an indication to date), then it's more likely it will be again, then not.
Just looking at the index now, STEEM has been rising for roughly 9 days, on increasingly significant volume (current 24-hour is $31 million). Up until the beginning of the year, STEEM was lucky to see volume over just $1 million for an extended period of time. Something is happening now, even though it's not driving price at an accelerated rate.
This could be just another, albeit long and rather distended pump, waiting for another dump, or it could be the foundations for another upward trend is being laid. The problem is, who can say which is which? We will probably know soon, if it is a pump and dump, and by no later than June if were going to the moon in 2019.
View this answer on Musing.io
View this answer on Musing.io
Historically, STEEM prices have jumped between April and July every year since 2016, when the STEEM blockchain first launched. The main anomaly to this was the beginning of last year when the price surged to all time highs, dropped to under $2, and then went back up past $5.
The first time STEEM went above $1, it fell from just under $4 to submarine under $0.20 (so farther than this time), and did so until May/June of 2017. So, potentially, 2019 could be following a similar pattern as 2016.
That said, who really knows when the markets are going to take off. Surely most of the wealth that was accumulated by the last surge is sitting somewhere. How liquid it is, and how quickly that can be accessed will be a part of the equation.
Interestingly enough, STEEM has been at or over $1 for the majority of its lifetime. Unless fundamentals have changed in someway (of which, there isn't much of an indication to date), then it's more likely it will be again, then not.
Just looking at the index now, STEEM has been rising for roughly 9 days, on increasingly significant volume (current 24-hour is $31 million). Up until the beginning of the year, STEEM was lucky to see volume over just $1 million for an extended period of time. Something is happening now, even though it's not driving price at an accelerated rate.
This could be just another, albeit long and rather distended pump, waiting for another dump, or it could be the foundations for another upward trend is being laid. The problem is, who can say which is which? We will probably know soon, if it is a pump and dump, and by no later than June if were going to the moon in 2019.
View this answer on Musing.io
View this answer on Musing.io
View this answer on Musing.io