Yeah it is super strange for sure. I almost think that there are so many people buying stuff they don't know what they are buying and since STEEM has more liquidity then the price doesn't move that much but when these people buy up STEEM Backed dollar it drives the price up a lot higher. I'm not sure. It looks like very structured buys.
And it is Saturday so what institution would be buying it up?
STEEM right now is at $1.19. It seems to trade in a channel. Goes down to $0.90 and then goes up to about $1.20. That has been sort of happening for awhile now. Hopefully it breaks out to $2 + again!
Yeah it is super strange for sure. I almost think that there are so many people buying stuff they don't know what they are buying and since STEEM has more liquidity then the price doesn't move that much but when these people buy up STEEM Backed dollar it drives the price up a lot higher. I'm not sure. It looks like very structured buys.
And it is Saturday so what institution would be buying it up?
I am not sure to be honest, maybe because the price went up to a dollar people are buying in to see if it will get more expensive.
Is there a likelihood of it going above $1 maybe $1.20?
STEEM right now is at $1.19. It seems to trade in a channel. Goes down to $0.90 and then goes up to about $1.20. That has been sort of happening for awhile now. Hopefully it breaks out to $2 + again!
The break out would be overly welcomed.
How could we expect a breakout? I bought a bit before the annual Steamiest thinking would help the price a bit but didn't work out haha.