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RE: This is crazy a 54.5 BTC buyer on HitBTC for Steem Dollars, level madness on a Monday, SBD above 100 USD--> CoinMarketCap takes action place HitBTC Price/Volume as Outlier
Its a total error the real price at the moment is about 1.75 which sucks :( lol
Technically speaking, its not an error, its the price at that exchange, its not what on other exchanges so everyone is acting up but that's the price at HitBTC, it also shows how 1 trader can easily influence an entire market, that 54.5 BTC sent that market into a frenzy... Since CoinMarketCap put the Price/Volume as an Outlier, its isn't reflective in the average pricing that CoinMarketCap give thus you see the big negative of the day, also makes another case of how data feeds from CoinMarketCap also influence prices... when it was at 14.50 it was part of the calculation hence the reason why folks were seeing it as a pump but since they now classify it as a Outlier it isn't reflective in the calculation, hence the big drop in the average pricing.... I wouldn't get to excited about these prices it just shows how 1 trader can influence the price an inflate marketcap of a coin, I suspect this is across most coins, so I don't see why folks would call it sketchy....We are unlikely to see those kind of prices for Steem or SBD on Bittrex or Upbit, probably Upbit on a crazy night but the main problem with Steem across exchanges is the constant selling pressure and the volume of selling whenever prices in BTC rises, i suspect this is part of the inflationary game and there isn't enough buyers for Steem to sustain a high BTC value, so its highly unlikely to see 0.020 BTC for Steem, putting all things aside, quite a few folks here are just bullshiting and pulling the fool with others, whenever Steem pumps they are the first to the exist and then they complain about the low prices, that's the game with a lot of witnesses, just bullshitting post getting a big payout and rinse and repeat....I kind of see the pattern with them here, few are true holders, I hope we see those kind of prices one day but that would mean there is significantly more Steem buyers than sellers, all the other games and initiative to boost value of the ecosystem are bullshitting...lol