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. :)
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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.