Almost Spit Out My Coffee When I Saw This - Steem Nearly At $0.50!!
So, after I woke up this morning, I went over to Coinmarketcap as usual and I almost couldn't believe what I was seeing. The Steem price was steadily rising, while almost all other coins were down. Mind you, that was some hours ago, seems like the rest of the market is catching up now as well.
At first I thought that the recent adding of Steem to Huobi might have had something to do with this, but looking at the volume on different exchanges this does not seem to be the case. The Steem/KRW trading pair on Upbit is seeing the largest amount of volume, followed by Steem/BTC on Binance & Steem/KRW on Bithumb.
So, given the fact that most of the volume is coming from South Korea, I am left wondering what the cause of this could be. Why are South Koreans driving the price up so much? It's no secret that Steem is fairly popular in Korea, but it doesn't really explain why there's suddenly so much interest these past couple of days.
Another thing I've noticed is that when prices are going down, Steem is holding up quite nicely. We haven't seen Steem drop under $0.30 since the 16th of February, which is a small but fairly significant achievement in my opinion. I'm not really knowledgeable about Technical Analysis, but to me these look like signs that we might see another bull market very soon. I'm curious what the TA experts here think about this, feel free to let me know in the comments below!
At this rate, we might even see Steem get back into the top 10 on Coinmarketcap, who knows... I'm pretty happy right now that I've been powering up these past couple of months, having bought Steem at $0.25 doesn't look like a bad decision anymore, that's for sure!
One more thing, @runicar is doing another push to get Steem listed on Coinbase. I would suggest reading his post about it and participate in any way that you can. If we manage to get Steem listed there, I have no doubt that the value would rise exponentially!
Check out his blog post here:
https://steemit.com/steem/@runicar/let-s-get-steem-on-coinbase-bounty-for-participants
TA: Steem is heading toward .85 before the end of the year.
If we also get a bitcoin back above 12k then $2.00 Steem will be easy.
Last year the South Koreans drove SBD up to $13 and Steem to like $3-$4 lol. I hope they do it again.
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Makes me feel good for sticking around and not giving up on steem. I hope steem consolidates around $0.50 before going up to $1.
Up to the 5$!
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Same story as the last pump except this time no rumor about Samsung buying Steemit.
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I’ve been pinging Coinbase daily to list STEEM
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It's been growing nicely all month. Great to see it creep back over 40c and even when others pulled back we only dropped slightly and rose again. It's a good sign and hopefully linked to all of the positive development since xmas. We have a better product now so hopefully the price will grow to reflect this.
Yeah, I definitely can't complain about what I've seen the past month. I'm glad that the news is positive for a change :)
It was a long year for everybody but I hope that all the people who stuck it out and kept working to improve the situation get the full benefit from it. It will be interesting to see the people re-appear once the price gets back over $1.
There is so much more positivity around since steemit.inc decided to work with the community and we saw how much could be accomplished even without them.
Makes me glad I powered up with most of my post earnings :)
Steemit Inc. working with the communities definitely helped a lot. I'm loving all the frequent updates for sure.
I actually just read about this a little bit ago. Figures I can't find it now, but someone on Steemit wrote an article that specifically talked about something that was happening in South Korea that they felt was driving the price. They felt it was a bigger factor than what everyone else at the time thought was driving it towards $.40. I apologize that I can't find it now....
Too bad you can't find the article, do share it when you happen to come across it ;) Now I'm curious what it was.
I about spit out my food as well. Nice write up about it. Thanks.
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Me too... go #steem go
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