[Reasons for STEEM rise] Due to the Bithumb exchange, STEEM prices may temporarily fluctuate. Please be careful when trading.

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※ This is not an investment recommendation, it is a temporary personal opinion, all investment decisions are at your own risk.

1) Bithumb exchange may resume STEEM deposits and withdrawals

Due to the Bithumb exchange, STEEM prices may temporarily fluctuate. Please be careful when trading.

The Bithumb exchange was hacked a long time ago and then stopped depositing and withdrawing some cryptocurrencies like STEEM.

However, the coins, which stopped deposits and withdrawals, were up 2 to 5 times more than global prices.It was not a normal exchange. The STEEM price is now $ 1.4. Is this another planet?

However, in order to show the operation of a normal exchange while issuing its own coin called BXA, the exchange has been resuming the deposit and withdrawal of all the crytocurrency that it has suspended from January 15 sequentially.

These announcements can be found at the links below.
https://cafe.bithumb.com/view/board-contents/1639880

Key points of the announcement

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2) The prices of coins that resume deposit and withdrawal temporarily increase

The coins which resumed deposit and withdrawal today were temporarily increased by about 30% due to arbitrage transactions with other exchanges such as Upbit. These coins are STRAT, WAX, AE, GTO.

STEEM can also resume deposit and withdrawal. Due to this expectation, the price of STEEM seems to have increased considerably, despite the decline of Bitcoin.

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3) Things to watch out for

Given the past behavior of the Bithumb exchange, there is no guarantee that STEEM will be able to resume deposits and withdrawals.

However, the recent Bithumb executives have changed and the BXA coin needs to be a big hit, so the likelihood of STEEM's resumption of deposits and withdrawals seems high.

Currently, bithumb has about 1.5 million STEEMs in its own right. Please see the wallet for the @bithumb.sunshine account.

When the hack occurred a long time ago, customers at Bithumb Exchange actually sold and withdrew all STEEM.

Therefore, the remaining 1.5 million STEEM balances in @bithumb.sunshine are not owned by exchange users, but are estimated by the bithumb exchange itself.

They may or may not dump it.

We also can not rule out the possibility of Bithumb deliberately delaying the deposit of STEEM from another exchange for arbitrage trading.

First of all, this is a temporary supply-demand issue unrelated to STEEM's fundamentals.

Of course, today's STEEM price rises may contain some of the people's expectations for STEEMIT INC's efforts to improve, including recent advertising adoption and cost savings, as well as some lurking positive news.

Perhaps there is a possibility of managing the STEEM quotes with the STEEM quantity moved from the recent @steemit account to the BITTREX exchange.
3 recent hot issues in the STEEM chain

Personally, I bought some liquid STEEM in advance. There is also room for a 10% to 20% rise (Until shortly after Bithumb resumes STEEM deposits and withdrawals), but it seems to be at a somewhat cautious price (=0.3$) for now.

Considering these points, please be careful when trading for short term.

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