STEEM price will go for a pump in next two weeks, price will increase by 20% measured by USD fiat
My latest theory, there are large pools of money manipulating STEEM price.
STEEM has been sitting between 24 and 32 on coinmarketcap.com for almost 3 months. When it sinks down to 31 or 32 on the list, you can see a big influx of STEEM purchases, enough to pump STEEM up to 24th or 25th place. And cause a price increase of approximately 20%.
Look at Apr 3, Apr 14, Apr 25 below. Sudden peak of STEEM purchases causes price to jump 20%.
And then STEEM purchases go quiet for a couple of weeks, until STEEM sinks down to 31 or 32, and then another big pump of money with STEEM purchases will take STEEM up to 24 or 25 on the coinmarketcap.com list.
It doesn't take billions to move STEEM price, like it would take if an individual or a small group tried to manipulate BTC price. It only takes millions to manipulate STEEM price. And the amount STEEM price moves can result in a full payback on the pump investment.
Lots of folks that are playing in crypto space have enough money to manipulate STEEM price. Soros like to play market manipulation games, and he can spend enough to manipulate STEEM price with just the loose change in his sofa cushions.
I'll put this prediction on the record.
STEEM price will pump up by 20%, measured on USD fiat basis, within two weeks.
If my hypothesis is correct, this might be an "investable" trend.
The typical pumps in the last couple of months have been about 20% higher price measured against USD fiat.
Let's watch STEEM price. Will it pump up by 20% in the next two weeks?
STEEM On !!
DaveB
You are convincing, but one big player or two here may capitalize on the opportunity and offset the buying pressure, causing the pump to be much smaller than 20% while doing so.
It depends on how sustainable STEEM, Steemit and busy.org in its current policy of free use, assuming it does not charge fees, are.
Decentralization is such an inefficient manner to store such a social network and blogging platform.
There is an argument to be made that steemit.com is currently a cesspool of robot votes, with very little original great material, and what there is is far to hard to find. Steemit.com is like a giant pile of crap, with a few gems mixed in.
Which is consistent with my thesis that the price is being manipulated. The price of STEEM certainly isn't rising based on the quality of content and curation in steemit.com
The robot votes are a method for people like me to grow.
I wish I did not need them, but I did not join early enough to premine or to enjoy a sufficient amount of generous votes by big accounts.
Those whom use the bigger bots, with losing ROI use them to promote content which at least they have some faith in its promotion.
https://steemit.com/bitcoin/@davebrewer/bitcoin-prices-won-t-be-at-the-bottom-until-they-drop-down-into-the-usd4000-s
https://steemit.com/steem/@davebrewer/steem-price-will-go-for-a-pump-in-next-7-days-price-will-increase-by-20
These two predictions contradict each other.
I know that not necessarily, but realistically they do.
I expect bitcoin to bottom or stabilize for a while at prices no lower than 5000$, probably 6000$ if it had not bottomed already.
Bitcoin already bottomed. Rising prices have broken the down trend The prediction of a low at $4,000 wont happen in 2018
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Steem had a very nice run in March. Hopefully May will also be an excellent month. It does also seem to me that there is some bullish buying going on. I wonder how long it will continue? Hopefully all the way up to $1000. :) lol
I haven't done the math to calculate exactly how much is being spent to manipulate STEEM price. The amount that would have to be spent to continue manipulation up to $1000 might be prohibitive.
But as a simple calculation, STEEM market cap is currently $1B. Market cap at $1000 would be $250Billion.
I'm not sure even the Hunt Brothers had big enough balls to take a run at cornering a market that big
There will be ups and downs along the way. Hopefully we can improve user rentention and boost our growth rate and make a run at it. I think SBD would have to all though. I think the steem blockchain could be worth $1 trillion or more someday. Right now it seems to me the value should be higher but we are in the early stages and have had some issues that still need to be resolved. Even so I think steem price should at least be in the $5-$10 range now but hopefully it will be there by the end of this month.
Facebook is only valued at $500Million. We would have to see a period of hyperinflation for steem blockchain to be worth $1 trillion. More a fantasy value than a probable value in my opinion
Yeah I'm talking like 5-10 years down the road. I think 100% a year growth rate for 10 years should be achievable. We spiked 100% last month. lol Hopefully we can have another nice rise this month. We are still up over 100% from a month a go but we might pause this month hard to say.
FYI I'd upvote your reply but my solo upvotes don't count due to the .02 payout threshold.
Steem is such an interesting and complex cryptocurrency because it features the ability to lock it up as Steem Power, which is an actual use for the coin. It also offers and interesting rewards system that requires a certain level of activity with increasing rewards for quality as defined by the collective pool of Steem Power holders. If your theory is right, this run up in all cryptos will drive Steem much higher to maintain market cap position.
STEEM has been tracking BTC for almost 6 months. Not an exact price track, but within a fairly narrow range, as STEEM fluctuates between a high in the 20s on coinmarketcap, and never falling below 32th place.
it has gone up already a few times. even though its rank has not shifted much on coin market cap but it went from $1.4 to $4.5. it could still go higher but that would mainly depend on BTC price. in BTC it has gone very high. now the dollar price will be depending on the btc price changes.
Right. The potential market manipulation is subtle enough as not to be completely noticeable or provable, but also of big enough magnitude to be able to make a LOT OF MONEY.
If you had a mechanism to get a 20% return every month, anyone could get rich in a fairly short timeframe.
i have been trying to get 20% each month for a while now :) met my goal in april but jan / feb were not profitable so have alot to make up in next few weeks / months
very interesting theory. I will certainly keep you in mind if this does happen.
Would would be nicer though is a 20% pump in the SBD price.
I don't understand your point. 20% gain is a 20% gain. No?
SBD rising by 20% means a much higher payout for authors as it closes the gap on the ratio between the value of Steem and SBD. Currently Steem is at about 1.15 so you need about 1.15 SBD to get 1 Steem.
either way an increase is still an increase.
I think SBD will have to fall down to near $1 for steem to ever moon. For steem to hit say $100 the SBD inflation rate would be crazy high if SBD was much above $1. I think it's better for steem to rise than for SBD to rise.
just crossing my fingers for that :D you know its going to be lit :D
Something to keep an eye on...
any recognizable repeating trend is a great opportunity.
Thanks for reading and commenting. You "got it" in terms of what I was trying to report.
Any recognizable repeating trend is a great opportunity.
The sad part for me is how well I recognize them after. lol
Steem is better than bitcoin
On what basis? STEEM is fine for its purpose and use case, but not sure on what basis it is better than Bitcoin
you're right..
but you're wrong.
at least on the last price increase.
that was due to being listed on the Chinese exchange.
I agree. Being listed on the new exchange is best and most likely explanation for the most recent price increase. But being listed did bring in the new investment pump, which caused the price jump.
So I was still "sort of right".
Whether as an intentional manipulated pump, or for some other reason, a big influx of $$ into STEEM causes approx 20% price increase.
yup..and the market cap is STILL north of a BILLION.
that's always good.
One more thing...regarding market cap.
Has Steem been moving down in the rankings because it lost market cap
or has it been by passed by other coins that have been gaining MORE market cap.
in other words...is Steem just growing slower than some of the others?
I recall when the 'billionaire club' was the first twenty
right now it's the first thirty rank.