Whoa. Steem Flew Up. Touched .0325 -- Why?
First, I would like to start off my thanking @ozchartart for his amazing posts.
https://steemit.com/@ozchartart
If you are into technical analysis, he always provides interesting charts. I'm looking forward to analysis on this one.
There's no doubt that we are living in volatile times but here's either a glitch or some entity purchased a ton of Steem at 11:20pm PST . Drove the price to .0325 briefly but the patient recovered.
Probably, someone partying and wanted to have fun?
Who knows what really happened but doesn't look BOT-like. What we do know is this market is sensitive. Sensitive markets are fun because we learn about
BEHAVIOR.
I love the graphs and numbers but behavior drives markets.
Positive behavior drives markets upward. Look at the current stock market over the last two years.
Now, the current climate leading up to another presidential election will bring more volatility for sure.
What do you think?
I had seen a post that someone had purchased 300 BTC worth of steem. Thats a big purchase. I think it shoots up for the purchase and comes down after all the fills to sell that have been waiting in the system. Sellers trying to make a little profit or break-even from past trades. Who knows really.... but if someone purchased that much, maybe they know something we don't. That's what i like to think anyway. :)
300BTC = $171,000 is impressive for sure. I wonder if steemit platform is starting to pop up on the venture capital radar and some of the fund managers are starting to put money into the system just to say they "invested". You don't look good if you missed an opportunity.