Every time this guy shows up on the Bid, it's time for STEEM to move up
I've noticed a pattern over the last several weeks as it relates to STEEM...
Someone shows up with a roughly 130k bid on STEEM right around the time it starts moving up.
It's like the bid shows up to show strength and then orders start getting hit on the ask, and the price of STEEM starts being walked up.
It's happened multiple times over these past few weeks and it's happening again right now.
Check it out:
(Source: https://bittrex.com/Market/Index?MarketName=BTC-STEEM)
It's interesting that it's usually around that same number on the bid (that 130k number), even though there are more orders around that one as well of decent size. That specific one tends to stand out.
Whoever it is, hopefully they have plans to push STEEM a lot higher than the current levels! :)
Stay informed my friends.
-Doc
I've noticed that one, too... and now that you pointed it out, it does seem like there's a pattern there. Seems to be programmed to stay juuust far enough from triggering any actual buys... but always near the top so it looks impressive...
Of course, Bittrex accounts only for a small portion of the overall Steem volume, but still...
Justin?
Could be him or one of his minions... Can't be really sure though, could be just some whale who doesn't like withdrawing all of his/her coins to own wallet.
Interesting observation, any thoughts on this being a bot or is it’s behavior more human like in your experience?
A human would put the price closer to existing orders to maximize profit... Bot usually puts it at certain percentage above worst order.
2 years ago steem jumped (just for a "second") to over $15. would be nice to see it again :D
If Bittrex would still allow keeping orders on the book for infinite amount of time, I would put enough Steem at high price and wait for the pump to happen again... About 2 years ago when Steem did go to around 7 USD, I did have sell order in Bittrex set and waiting...
Most likely a trading bot...
will see