Christmas is definitely coming and I have proof for that: today I woke up with STEEM at over $3, precisely at $3.26. Last time STEEM was trading that high was on July 22nd 2016, more than a year and a half ago.
The appreciation is intrinsic, meaning its not tied to BTC (which was relatively flat, if not a bit lower than yesterday), with STEEM trading at 17k satoshis. A couple of days ago it was still struggling to get over the $13 resistance level.
On Bittrex it was trading at over 18k satoshis, on significant volume. During the last two days the total trading volume on Bittrex for STEEM was almost 700 BTC, or $13 million. I'm not a professional trader, but the last green candle seems to indicate that the volume and price action is enough to sustain this trend during the following days.
SBD is consistently trading over $13 at the moment of writing.
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
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Wow.. this is really exciting... i feel $10 Steem is not far away.
looking at $5 at christmas
Steem is becoming new Santa.
I posted something similar a couple of hours ago. It's a great time to be a steemian.
It's nice to see STEEM on the rise after being down at or below the $1 mark for a while.
With the SBD-USD peg well and truly broken, have the witnesses given up trying to implement any interventionist strategies, and are they just letting it run loose, and riding this one out to see where it goes?
As far as I'm concerned, as a witness, all I can do right now (and all other witnesses can do, AFAIK) is to adjust the price feed bias. I've been adjusting my price feed bias for two weeks now and as you can see the rewards split gap is widening, inching towards 70/30, meaning more SBD are printed, in order to increase supply. Other than that I'm afraid not much can be done at the moment. The total supply of SBD is under $4 million which, at the current volumes traded in crypto, makes it very vulnerable to outside market manipulation.
Thanks. I noticed the ratio creeping up to 70/30 as well. I suppose there is very little you can do when the market is so strong. You also don't want the total SBD supply get too high vs the STEEM market cap either (debt to ownership ratio) , so as long as the STEEM price keeps up we should be fine.
If some BTC whale steps in with a few hunderd thousand dollar, then he could basically control the SBD price, without too much schemes.
YES YES YES, I woke up this morning also... couldn't believe it..
https://steemit.com/cryptocurrency/@rival/greenday-what-a-nice-morning-to-wakeup
after all those coins I saw x10 I am happy with my steem
I'm not sure why it is so high but cant complain! Hope it keeps rising :)
looking for it to go even higher
At this rate we might get a $5 steem by christmas , i thisnk this is why the reward ratio of SBD and SP is large, not sure i understand much aboutreward ratio
Great article. I upvoted this and I wish you do the same thanks!
It’s looking real good for the platform. Need this info thnx for the share man.
Very good work. I follow and voted you. Thanks for sharing the post
Very good work. I also woke up with STEEM. I follow and voted you. Thanks for sharing the post
yes and hope now this price now moving down and rise up more in next and sure it will moving up at its high 4.26 @dragosroua
thanks for sharing the experience you had when first starting out. i will keep that in mind for any future comments i might be making. thanks for preventing new steemians from making those mistakes :) by the way i like what your doing here on steem, you keep it real, i can appreciate that for sure :)
thanks for sharing your experience :) ..
very good
greetings
The best day ever both rocking the crypto markets :D