After 2 days of almost no trading, with variation of just 1-2k satoshis, Steem broke up suddenly with almost 10% in just 4 hours, as you can see from this chart taken from Poloniex. It touched 90k satoshi (exactly!) and then pulled back in a retrace.
What's interesting is that the volume in those 4 hours was more than 1027 BTC (roughly 2.5 millions USD) which means that somebody really wanted to see this pumped. Or that somebody got a lot of confidence the price of Steem will go up and bought a lot. Or that somebody just had 2,5 millions of USD to spend and Steem looked like a nice alternative.
What I'm trying to say is that, at this point, it's all speculation and nobody really knows what's happening.
But you know what they say: "buy the rumor, sell the news". I wonder what the news will be.
Until then, enjoy the ride!
Disclaimer: this is not, by any means, trading advice!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
I hope price will skyrocket than people will see that thier vote became more valuable.
I've been seeing the word hard fork for quite a lot of time now but I've never quite understood the meaning of it.
Would it be ok to give me a short explanation of the meaning.
Much love from me. ❤︎
-Goldie
Hardfork = a modification in the underlying logic of the blockchain, impacting the way transactions are made from a certain block onwards.
Starting with HF19, for instance, the voting algorithm will be modified so each vote will have a proportional saying in drawing rewards from the reward pool (as of now, this is is squared, so if you have
nvoting power, you drawn^2rewards from the pool).Think of a hardfork as a new version of the blockchain, from a certain moment onwards.
Wow. This is a good analysis. My respect @dragosroua. I'm learning more about cryptos on steemit than i ever did on bitcointalk. Thanks once again for contributing to that. Steem to the moon🔭
all I have invested is my time.
it's a win-win no matter what.
Me too. I think Steem will do well in the long run.
You are winning -we have confidence in STEEM!!!!!
when I cashed out my first penny...i'd won.
the only question now...is how big the win?
I can't loose..
yah true no loose!!!
It probably triggered a bunch of auto trades.. 14 BTC to buy at .00085997 - good day to buy if you are a "sentiment" trader.. Its gonna be a crazy day or three..
Yep, it looked "bot"-ish to me too...
Thats why they change their price .000001 every-time I change mine... ;) If I can get in at .000820 ahead of the HF I will.. someone will send it to .001 (imo) - it seems in crypto these days - no news is good news - good news is even better.
After HF 19, it may even spike much higher.
I believe in STEEMIT whole heartedly and think it's poised to take off way higher than the moon....I bought STEEM last week off of Poloniex and just wanna keep putting all the spare change I have into it even more...it makes it so easy also when you actually get to be involved with such a great company that you can truly believe in....GREAT PRODUCT!! Love me sum STEEMIT! Have a great day @dragosroua!
Hahaha! Love it! Have a great day @liv2love!
thanks for posting upvoted!
Thank you for the update. The financial system is extremely volatile these days, still crypto seems to be the safe alternative to paper.
Good to know. Thanks.
the investments are paying off
I thought it would go down as so many people are super bullish. I have been powering down for a while but sold my few coins too soon but im not unhappy about it.
Upvoted and resteemed -
Glad that I got it! although only a buck lol
I like your reasoning for the abrupt stop at 90. I've had a go at a basic chart showing it touched June 13 resistance level:
https://steemit.com/steem/@strapped/very-basic-charting-example-what-just-happened-to-steem
Steemit is a place to to be. Steem is a must have asset. Thanks for anlysis.
thanks for sharing, upvoted
@dragosroua I have not seen anything in the hardfork that warrants this kind of growth. Something else - the news! Steemit membership I have heard has grown about 100,000 members to 200K, so this is likely the cause of the upheaval.
After coming to Steemit, I also purchased some #steem
As you write about #business, you may like to check out my new article, another user requested if he can feature it, so may be of interest to you as well:
https://steemit.com/money/@kozan/startup-to-success-how-to-create-a-successful-startup
Followed @dragosroua
Create a great day,
@kozan