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RE: ** Steemreport ** 1.36$
But.. the big question lays within this... what is preventing it from getting to the $2 mark?
When BTC took off, what were the conditions? I am new to cryptocurency so am not too familiar with the way it increases or decreases in value.
That's a classic argument that most traders will have amongst themselves even at the professional level. It's like asking why did the NASDAQ drop however many points for that particular week? The only answer that's really the correct one is "I don't know, but the only certain thing is because somebody bought or sold it".
I know, not a satisfying answer in the least, but it's so true when it comes to cryptocurrencies in particular because they do not have the same level of market manipulation going on as the 'real life' markets. You can see everything and can see the amount of trades going back and forth. so really that's all there is to it, sometimes there can be factors affecting big traders buying up cryptocurrency like an announcement and so on, other times they could just be doing it for giggles and then it grows so out of control even they can't dump coins fast enough to stop the price rise.