Could it come from Korea again?
I won't lie, waking up seeing the green is probably the best way to start one's morning, but I did not expect to see the exchange that made it so to be Upbit. For those that don't know, Upbit is a Korean exchange and the pairing you see is of course for the South Korean Won.
As the title of this short post of mine suggest, if Korea is the one to help STEEM prices rise, it would not be the firs time it does so, which to me is somewhat crazy if I'm to be honest. Now, the particular order in which the last bull run happened was not precisely like this, and I'm not holding my breath either, but as I said, it did come almost exclusively from the Korean exchanges.
If you look at a regular day of STEEM trading, the one that always takes the cake is Binance. The reasons as to why are pretty obvious to anyone who is part of this space, and even though Bittrex has been supporting STEEM and SBD for a lot longer.
A word of caution to anyone who might be feeling the FOMO at the moment: "This could be short lived, trade responsibly" - The advice we've heard over and over and someway ignore over and over rings very true: "Do not invest more than you can afford to lose" - This is to say not that I believe STEEM will go to zero or anything that tragic, but if anyone is thinking "I can put my house payment wait a day, sell and have extra" That person might be in for a rude awakening.
To revisit the question I started with, Will the bull run be catalyzed by Korea again? I guess it's very likely, since the KR community is quite huge on here, as much as some might be unaware of it being the case. And maybe, just maybe, @ned reappearing has given some sidelined investors the little push of confidence they needed to buy the dip, so to speak.
At any rate, It makes me smile to see a green day for a change.
Korean crypto mania seems to be fading.
The only hope is Coinbase / GDAX as the most liquid and easy to use platform. USD pair on bittrex should help too.
Keeps on moving up, another green day :)
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Is it good news? I mean do we want another speculative run? Which is what this looks like.
I thought we were after getting more users onboard and buying steem so the price increase has (probably) greater stability?
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Point taken, but we might be years away from said stability. Which is to say, the market cap from all cryptos is still insignificant when compared to legacy markets.
As a matter of fact, look at the market cap for Google, or apple for that matter, and the market cap of one stock alone, one company, might be bigger than all crypto added up.
So the "stability" of holding Amazon stock for example, is both true and false depending on how much you are zooming out. If Amazon "dumps" it's a couple of percentage points and people are freaking out. When it comes to crypto a 2 percent movement is just a boring Wednesday.
When or if, to be fair, steem reaches 300 billion cap and the token is 100 or something, then we can talk about stability, right now the volume, userbase and overall cryptosphere is too fickle
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Yes also fair points.
Of course if we are many years away from said situation, I wouldn't complain about a 5K% leap in the steem price in 2019.
It'd help pay the bills in the meantime!
I will run to grocery store and get some more kimchi..hopefully the S Korean overloard will look at me favorably ...
Nothing exciting in the current price and people seem to be on adrenaline!
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I unfortunately agree. Nothing exciting..
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But the price seems to move a little and this encourages a lot of people on the platform.
ah i forgot about the whole korea/steem dynamic. I'm glad they are here. we need all the decentralization we can get.
This could also potentially shed light on the implications of being able to buy Steem with fiat as it seems that it has a faster impact than the typical trading pairs. This makes the efforts to get USD pair listing on Bittrex and even Coinbase even more enticing!
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Roberto, what are you talking about. Any responsible roberto should take out a credit line and put it all in steem ;-)
Hopefully everyone realizes I'm kidding, do not do that!
Thank God for the South Koreans ! (-:
Investing in the blockchain is almost the same as gambling. You can get rich or go bankrupt overnight. It could be if it came from Korea again.
Haha...sad but true. Lol.
It is a good news for me as it also makes me smile to see steem climbing up after so long been down. I just hope it continues going up as from here amd did not fall back low again because i am tires of the low price stagnation