STEEM Just Jumped Well Above $3 USD
Okay. This Is Getting Serious
Image source—World Coin Index Steem page
This is a screenshot I took moments ago after I realized that the price of STEEM had jumped from around $2.65 USD to around $3.20 USD. The $2.65 USD was reached after a first jump that took the price from around $1.95 early this morning. The price had been heading mostly sideways before all this.
Did something happen? There was speculation that some kind of announcement was coming regarding STEEM, but this also appears to be the normal rise and fall of the synched cryptocurrency markets.
So, I don't have any idea what people are thinking right now, but STEEM is taking a ride again.
24 hour market volume is $85 million, the largest I think I've personally seen.
Is this because people saw the problems Facebook is in, and a bockchain based social media platform like Steemit might be an alternative? You can see Mithril doing the same thing to an even higher extend.
This could be some of the larger crypto move bleeding over to Steem.
BUT.....
if it is Facebook people moving for a platform that does not thought police running it, we are going higher.
Now if Dtube would gain some of Youtube's viewers we are set for a moon landing.
I tried Dtube a few times. For some reason it's not always working at it should be. Some videos don't start etc Also doesn't feel like it's as quick as youtube. I hope they can fix that.
I feel like dLive is going to surpass dTube in the video hosting front. Seems like the devs there are a little more community oriented and helping their members grow.
good to hear. I will check it out.
Is there a good place to go to keep up with the discussions ?
Not a clue, sorry. I just know friends who use dLive and prefer it over dTube.
I really don't know. The Facebook hearings is as good a guess as any. It could also be that the normal pattern of the crypto market is starting to happen, where things go up for a while. I'd heard that it might not start until May, though. Of course, this could be just a massive pump and dump, so who knows.
I just looked up and now it's over $3.40.
I read about Mithril earlier in the day. I don't know anything about that one.
65% in 24 hours is pretty crazy but at the same time it happens all the time in crypto, you are right. I hope Steem has a strong long term structural uptrend. I convert my Steem and Steem Dollars in Steem Power anyway.
Mithril is just another ERC-20 token, which will die with ETH, after EOS is live, imo.
Yeah, okay. I'd heard of the name before, but it's because of the fictional metal in the Lord of the Rings trilogy, not because of the token. The former must have influenced the name of the latter, though. It's interesting that tokens like that would just suddenly pop so much. It must've had some kind of announcement, or else, the same big movers and shakers who like to stir things up periodically so they can make more millions in a second must have decided that it was as good a target as any. :)
Yup. The rich High Elves! Awaiting the Tolkien Token!
It has been a pleasant surprise, though I was still hoping to pick some more up at or below $2, haha. I'm not complaining though!
I think I got as much as I was going to, barring a meltdown below $1, so I'm not complaining about the price jump either. Now, if it will only stay up long enough for the internal median price on Steemit to go up with it. I guess it has risen a tick to $1.81-ish from $1.80. Woohoo. 😐
Its a bit exciting.. not that I understand it!
I don't try, normally. I decided a long time ago that there really wasn't any rhyme or reason to the markets, so I haven't really tried to figure any of it out. The few times I've tried to read analysis, it's mostly couched in phrases like, "this could happen, or maybe not," or "if this happens, then this might happen, or it might happen later." So, I don't what that's all supposed to ultimately mean.
It is exciting to see the value rising after several weeks in the doldrums. However, the price is now back down to $3.01 USD, so maybe the upward trend is over and we are just in the middle of a pump and dump. :)
Analysis is really about probabilities, so I try to just look at them from that point of view. I'm like: Yea, I'd like this to happen, but I'm gonna wait and see. The interesting part is market sentiment and how it moves the price. It doesn't have to be supported by the news in any way. People just decide and it goes. Supply and demand. No need for rocket science.
Well, I would love someone to study the probabilities of me becoming a billionaire in the next five years, and then have millions come along and speculate me there, but I'm not sure exactly what that's being based on in reality. Which may be your point. Reality isn't a part of it. It's whenever enough people decide it's time to move, make a profit, drive price, what have you.
Not trying to be contrary, and certainly not with you. The markets just seem to be manipulated by people's fear, either the fear of losing money, or their of losing out, and while I definitely feel fear, I don't find it the emotion I want ruling my decision making.
I feel like you elaborated on my idea in a good way. Feer really is the main driver in crypto markets. Lots of inexperienced people, myself included, jumped on the train whilst it was nearing top speed. It was a pleasant experience, while it lasted. I think most of us learned their lessons and now it's time to move on.
For me, fear isn't a factor anymore. Not that I was any specialist in trading or anything. I found out that it's not so hard to determine whether the price is way too high for me to jump in on a few coins. See an all time high? Probably not the best time to buy. :D
Sell high. Buy low. It's a pretty simple thought, really, and one I've incorporated to a very small extent in picking up this last amount of STEEM.
The problem always is, determining what constitutes highs and lows.
When the market's on its way up, any of the previous amounts looks like a low, until it drops. Then anything above it looks like a high.
I've been told I should try to buy the dip, but there can always be a bigger dip. So, I guess you try to buy on the downside of the dip. But who knows how long and how deep a deep is going to be?
I've had some pretty anxious moments getting into all this, which has been tamped down by repetition and getting used to the idea that I'm probably going to lose some coinage every time I go from fiat to crypto to STEEM, because no one wants us to go straight to STEEM. That would be like, way too convenient.
I'm glad to do some investing, though. I haven't done it since just before the whole 2007-08 crash. There, I didn't know a whole lot. Here, I still don't, but at least I can see what's happening and I can also do some more about it, since I'm the one controlling the wallet and not some brokerage or fund. :)
There is only one way to explain. Many people decided, for whatever reason, that now is the time to buy. Buckle up, because we are on the roller coaster once again. Can't wait to see what happens till Christmas.
I really don't like roller coasters. :)
I guess they're more tolerable when they're the market kind, when I'm not physically sitting helplessly in a cart that is speeding me around in all sorts of directions. Even though, that's exactly how it felt this last major ride we took.
Not that I want STEEM lower, but it's actually nice when a couple weeks go by and the price doesn't move more than a few pennies. It's this bouncing of dollars at a time that gets a little rough. I can only imagine what the Bitcoin folks feel when they see their investments rising and falling by hundreds in a blink of an eye. I know we're not supposed to count every dime every time there's a market fluctuation, which means I'd make a lousy trader.
And I know it. :)
Regarding the literal roller coasters, I'm quite the opposite. I love them. :D
There has been extreme volatility not only in crypto space but in traditional markets as well. Ever since I stopped margin trading (got stopped out, not fun), I'm fine with anything that happens. As long as it's not 0,0 in any of my assets. In fact, I even like it. It makes things so much more interesting and keeps the blockchain dream alive.
I'm getting butterflies!! Really excited to see where this will go!
About a second ago it had fallen down to around $3.10, so off the high by 40 cents, but now it's heading back above $3.20. So, who knows. This is definitely the most buying activity we've seen in a while. Which so far has meant a fairly significant sell off each time.
I say all that like I know what I'm talking about. Don't listen to me. I have no idea. I feel like a parrot. :)
blah blah blah ;)
I'm pretty sure that's not what a parrot sounds like, but okay. :)
It's nice to see it go up, though. It is. It's just that up isn't permanent. So, maybe that's what you're blah, blahing. It's kind of hard to tell. :)
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