Hi Friends,
I wanted to propose a theory that I have been discussing with my friend and professional analyst @jimmyrai28.
It is so basic, it has been staring us all in the face.
History Repeats...
Every month when rent and bills are due, steemians use convert their earnings into BTC. Traders know that during this time, Steemians are less likely to seek a deal on their Steem. Therefore they allow the market to crash.
Once enough desperate sellers have depleted their monthly spoils, traders that purchased the cheap Steem work to rapidly grow the currency value unhindered.
Previous spikes offered roughly 2x growth. I'd estimate that if this pattern continues, we could see Steem to trade up to 120000 Satoshi within the first week of July, and I am not someone who would make a definitive estimation lightly.
If you think this effect exists, please upvote, resteem and hodl!
