Someone is filling up their bags with STEEM! Possible short-term profit for day traders?

Crypto markets have been acting up lately and we are seeing more of a decoupling from BTC than ever before. While BTC has been dictating altcoins price for a while now, this is not the case anymore as we are seeing many altcoins on the rise while BTC is going down in value.

Something I'm more than glad to finally experience and embrace.

For a long time now (more than 3 months) STEEM's liquidity has been on the extremely low end. 24h volumes have mostly been in the range of less than one million dollars in 24h but that changed yesterday when someone, or a group of people decided it's time to fill up their STEEM bags.

Unsurprisingly, like in most other such pumps I've witnessed over the past year and a half, the driving force behind it is Uptib, one of South Korea’s largest cryptocurrency exchanges with 4.7m USD in 24h volumes, followed by Binance with 2.9m USD in 24h volumes collectively amounting to 75.8% of all volume over the past 24h.

NOTE: Upbit was behind 90% of the 24h volumes in the 13$ SBD and 8$ STEEEM pump.

This brings up a question. Why is it that Koreans like STEEM so much?

Honestly, I have no idea. Maybe some of you have a better insight on this. I would love to hear from you and discuss this in the comments .

With 9.2 million in 24h volumes this 9x spike in volume and 23% in price, this is insignificant in the grand scheme of things but it may make for a good opportunity for all of you day traders out there. What I'm going to state in this post is in no way, shape, or form, financial advice but rather my opinion on what I think might happen with the price of STEEM in the next couple of days.

I do not suggest any one of you to do the same trades I did but would like to hear your point of view on how you think they will end up.

Will they turn a profit, or am I destined to sell at a loss?

Take this with a grain of salt as it is just my observation based on past events and experience on how every such pump ends up resulting in. With a equal, or more severe dump afterwards.

What I think will end up happening is that, both the volume and price of STEEM will go through a pullback to the price it was before the pump started. Meaning that, from the point where I sold some STEEM I had left over from the past on Bittrex (0.32$) the price should retract to somewhere around 0.26 cents per STEEM.

This should result in a pretty nice short-term profit.

If I'm correct of course. Anything could happen though, but it seems that I'm right and that the pullback pullback I expect is inevitably going to happen, has already started.

What do you think?

Is this pump going to drive STEEM's price even higher up? Hindering the chances of my planned buyback at around 0.26$. Or will the price plummet to back where it was before the pump?

Either way, it will be fun to monitor the price and liquidity of STEEM over the next couple of days, that's for sure.