Steem Saw A Lot of Buy Action This Week

in #steem3 years ago (edited)

Steem has started moving thanks to some very large daily buy-ins since the beginning of the month, with a 16.88% rise in the price of Steem against Bitcoin since October 1st.

This could be a really big fish buying in, or it could be the start of a bum's rush; I simply don't have the story on this yet so I don't know. The biggest volume spike was heavily focused in the early afternoon today, which suggests this is likely a big fish accumulating.

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The hourly chart above is revealing as to the time of day of these buy-ins, but the daily chart below helps to see the escalation of this movement since October 1st, both in the volume and the parabolic increase. It's just too perfect to be organic, which is why I'm waiting to see where this goes before calling anything.

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Thanks for reading, and have a great weekend.

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If you want to see something interesting... head over to coinmarketcap and look at the 24 hour volume on Sept 30th. The volume for STEEM hasn't reached those levels since March. Follow the money

holy hell, you're not kidding.

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