GK's Theory on Why The Price of Steem is Likely to Double
Hi Friends,
I wanted to propose a theory that I have been discussing with my friend and professional analyst @jimmyrai28.
It is so basic, it has been staring us all in the face.
History Repeats...
Every month when rent and bills are due, steemians use convert their earnings into BTC. Traders know that during this time, Steemians are less likely to seek a deal on their Steem. Therefore they allow the market to crash.
Once enough desperate sellers have depleted their monthly spoils, traders that purchased the cheap Steem work to rapidly grow the currency value unhindered.
Previous spikes offered roughly 2x growth. I'd estimate that if this pattern continues, we could see Steem to trade up to 120000 Satoshi within the first week of July, and I am not someone who would make a definitive estimation lightly.
If you think this effect exists, please upvote, resteem and hodl!
I do believe there is a beginning-of-the-month effect and monthly bills probably do play a part.
meep
Yaaaassss
meep
Let's give it a shot! :)
HAHAHA I never thought about this before. You blew my mind.
Ikr, It's soooo basic.
You may very well be onto something my friend
Steem is up. Cross your fingers.
My brain doesn't really understand these things. I need you to figure this out for me. Hope you are right
This makes common sense.. resteemed & followed 👍
I am with you in this one. I see a lot of potential in steem. Maybe it will double right away but after the summer it will soar for sure. Give it two months max
In my opinion it has to do with the amount of people selling versus the amount of people interested in building value. When there are less people trying to make a quick buck, traders are more free to increase the value.
I guess we'll know by the end of the week.
Thats the short term which I believe you are right with. I think after the summer more people will be thrilled to join steem due to getting inspired on vacation. It also an expensive period, just like christmas so people will be looking at ways to earn something extra
You have shown a valid point and i really like your setup, It just shows another description to dump and pump happening in steem.
Thanks for sharing that with us!!!
as @wandrnrose7 says + upvote