STEEM TESTS THE $2 MARK, FINDS SUPPORT AT $1.2, RESISTANCE AT $1.7
Steem breaks the $2 mark today and its trend seems bullish. Looking at the the 3-day moving average candlestick chart on bittrex, I have observed that steem finds support at about $1.23 (0.00041835*2952 BTC) and resistance at about $1.73 (0.00058623*2952 BTC).
Meanwhile, I've made a profit of over $50 today starting with about $500, trading steem on bittrex .
STEEM is being driven by speculation. When everyone has "enough" to cash in, they will.
I agree with you, @cheapogroovo. I guess that is well understood, not only in steem, but it's the same with all other crptos and even stocks. Investors would want to take profit. What it's important is the value that the steemit platform gives to its users. The more users like using the platform and 'bus in' more people, the higher will be the price of steem, in my opinion. Thanks for your comment.
Then steem can collect more users than bitcoin. it will cost$1000?
Well, for now I don't think steem can. Maybe in the long run, it can. Thanks for your comment @byvt.
Do you think maybe steam when it cost $100?
I think $100 for steem is far from happening now. It's better we project $5/$10. These are more realistic. Cheers.