That is a pleasant thing this morning as we are celebrating Christmas. I wish this jump continues & carried at least in to the month of January of 2019. If you notice that, it is not just steem price which has jumped by 15.7% but also the rank of steem in coinmarketcap has also jumped to 48, earlier in the day it was 51. So there is a jump of 3 places in the rank of steem also.
The trading volume of steem has also gone above 2 million usd and close to 2.5 million usd now and it was earlier just under 1 million usd. So there is a positive sentiment developing around steem currently.
If this jump sustains from here, then I am sure into the first week of Jan 2019, we can see a return most of the old steemians who are inactive now because of low price of steem and we all can see the engagement will go up very soon if steem price appreciates like this.
I don't think I can predict the future but I am pretty optimistic on this too. I checked on CoinGecko earlier and this week alone Steem price has gone from 21 cents per Steem to currently around 30 to 33 cents a piece. Us economy is not doing well, so everyone currently looks at finding a safe place to put in their cash while it appreciates too.
For me, i just put the steems I earn into half Steem power and half Steem and I convert some of the steem to other coins which I think appreciates. I think by next year if all goes well, the price should be able to hover at above at least one next year. That would be good for all of us here at Steem.
I think the other reason is because of its recent announcement on Steemit with the new Mira where Steemit will use a different place to store all these data. It will make it run more smoothly and at the same time more cost efficient. The next bull run may be coming soon. I think cryptos may have bottomed out already and it's time for bottom fishing.
The other direction is that the cryptos drop in price. If that does happen we can keep on investing so we can average out the total cost of the price at various points of time.