The sudden rise of steem last week brings in the much needed frenzy amidst this long dip.
No body saw it coming. Waking up in the morning to the price of a steem dollar shooting by an enormous 110%. I reloaded the coinmarketcap page a couple of times to justify there was no error on the web. This happened last week when the price of the steem dollar and steem shot drastically yet the rest of the coins on the coinmarketcap were having a gradual increase in their prices. The culture has always been the prices steem and other alt coins rising as a result of the influence of the rise in the bitcoin price. But this wasn't the case this time around; steem and steem dollar were super bullish inspite of all other coin prices having small increments in their prices.
This rise was the topic on every steemit user's lips. The social media platform had people in different groups showing their amazement at this unexpected turn of events. I visited a few and truly one could tell such news had been a long time coming for users that had got a little depressed by the long dip in the prices.
People were left in awe wondering what to do with this sudden change in the prices; buying cheap steem, powering up, holding a little longer anticipating the price to increase higher, withdrawing which could bring in a good sum of money since the bitcoin price which one has to transfer to before withdrawing was still low. I could feel the fear of the prices dropping shortly after the rise among some of my friends as It was hard to tell how long the rise would take. Prices of some alt coins of recent have been known for rising very high but then start going down within a short time.
A large sum of people withdrew some sbds given that steemit is their only source of income and they had held the coins for far too long. I got impressed by some that transferred all their sbds to steem and powered up. Getting a chance to buy steem this low doesn't come often and this was an opportunity one could take with both hands.
Though the prices fell back, am glad that the sudden rise was a relief to many of us on steemit. This has recovered the activity that had gone down a little on the platform. Am definately looking up to another price shoot that will get those that didn't maximise last week's opportunity ready this time.
Thanks for reading, @musamalijames
wow! like your article. love this. thanks for your share. <3
Long time ago since the last "to the moon" comment so I will do it
Steemit! To the moooooon!
You have a minor misspelling in the following sentence:
It should be definitely instead of definately.To listen to the audio version of this article click on the play image.
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