The Price of Steem is currently sitting at $.32
That marks a 4x return in just the last couple of days for anyone buying in the $.07 to $.08 area.
Not only is the price flying, but it is doing so on blistering volume. Over the last 24 hours close to $6.5 million dollar volume has traded hands. That is absolutley massive.
Why is this all happening?
I am not entirely sure. Cryptocurrencies are ripe for manipulation, so it really could be any one with a couple million dollars dictating things. There were also rumors of market makers getting involved at some point, perhaps this is them?
What makes this rally even more peculiar is that it happened after seemingly terrible news (Dan leaving).
Does the rally continue from here or does it need to rest for a bit?
Again I am not totally sure but from a technical standpoint, the price has broken a year-long downtrend and it broke it on massive volume. Both very bullish signs.
Right now the technical term for what is going on with the price of steem is simply known as: "badassery!"
Here's to hoping it continues!
Live well my friends!
Sources:
https://coinmarketcap.com/currencies/steem/
Follow: @jrcornel
There was a huge sell wall of 20 BTC sitting at 30K Satoshi. It is gone now.
Time to rise some more :)
Badassery!
:) Good call :)
very good . $) hehe
Yes, very good indeed!
I like the term 'badassery' :D
That is the technical term ;)
nice post @jrcornel
Go steem go!
Here are five factors that could have played a role:
I think it was likely some combination of the above. Although I'm leaning towards a new investor being the driving force...
Or simply, because trust has come back with a new management! Who invests in a poorly managed business?
I'm personally leaning towards the market makers theory... but really it could be any number of things.
After being downvoted I transferred and exchanged my liquid STEEM that was purchased around $0.07 out of frustration. Then the price shoots up to $0.30 + a couple of days later :( 0uch that hurt!
I believe the price bumping up is due to ppl seeing how fast Dash/ETH had came up and now see the power of purchasing anything else besides bitcoin. Ppl are starting to put faith into other coins oppose to just seeing bitcoin as the dominant. Their are new sheriffs in town so-to-speak ;)
Bitcoin going down these last few days is PROOF that ppl are buying up these Alts as they are much cheaper, trying to get in on some nice fast returns.
Man that is bad... I'm sorry to hear that! Hopefully steem keeps rising!
@jrcornel
No need to be sorry, that little m0ney wasn't life-changing but could have been a start ;)
I am 100% positive that STEEM will one day be in the $100's & up and THIS is what I'm really waiting for! I still have other coins as well such as 3URST and soon LUNYR_ETH Based(Mar.29th Crowd$ale).
Forex-Trading will be my bread & butter so, I'm not too upset but it would have been nice to see the liquid STEEM up 4 X in just a matter of days ;)
$100 per steem would be pretty awesome. I think there might be too much supply for those kinds of numbers, but anything is possible!
Thanks for sharing information.
Nice post @jrcornel
Good job.!!!
You got it!
everyone seemed to knew, just had to wait for the downtr-end
Could be. The downtrend is officially over now. Time for an uptrend!
And the price of bitcoin is below 1000$.
Steem IT !!!!
Bring that money on over into Steem! :)