JS Index update for 09/01.
JS Index is designed to make your trading decision regarding Steem a walk in the park. Click on the link for more info what it is.
I intend to do the daily update somewhat later during the day. But as the time will vary, from now on I will also include the hour for which the Index was calculated.
Today “the exchange held funds ingredient” saw one of its rare increases, although not very significant one. More importantly today “the NON-exchange held funds” part of the index saw a second consecutive day of large (historically) changes. An exiting times might be ahead! Time to see if this part correctly predicts/estimates/offsets future changes in the exchange held funds
JS Index for 08/31/2016 13:00 UTC:
546.21
Steem price: 0.001548 BTC/Steem or about $0.88
Past Values:
546.29 - JS Index for 08/31/2016 16:00 UTC; Steem Price: 0.001628 BTC /Steem or about $0.93
The chart above is for the period 07/26-09/01 of the JS Index and the price of Steem.
My Thoughts for today.
Those are just thoughts of mine. Do not take them as trading advice because they are not!!!
The JS Index is virtually unchanged from yesterday. Same thoughts on buying selling as yesterday.
Ok, i'm waiting good moment for buying.
it seems your index is right. Steem price is coming back to downtrend.
It seems that way right now. The important thing is the Index has nothing to do with predicting any spikes / pumps. There might be many of them at random (or not so random) times. The good thing is the index helps to call them "unsustainable pumps" or sell opportunities if you wish, until such price increases also show as positive changes on the index itself.
As far as this the last pump goes - I am more than 75% sure what caused it. There were 2 factors in my opinion. The first one was pump by someone on more than one coin, Steem happen to be one of those. The second I am sure I can prove, but to do that I will have to write a script. I do not feel like writing it and posting it so I can get a buck or two max as reward, and I am pretty certain on the reason, so why bother.