It always makes me nervous to see prices increase so quickly. It feels pumpy and dumpy. I am very confident in steems future but would prefer a slower rise based on improvments to the system and adoption. Dont mean to be a nah sayer but these big jumps are giving me a heart attack.
I agree, spikes like this tends to be due to speculators, who are just holding for the pump. Long term holders power up and therefore can't dump. Weak hands are shaken out after the spike is over. The risk is that much of this accumulation is not being powered up and will therefore go the same way it came. It has stabilised nicely today though a bit of sideways movement at this point is a good thing.