Firstly, What is a STEEM Dollar?
After reading a number of posts, I was surprised to realise some people were unaware that STEEM Dollars are meant to be pegged to the U.S. Dollar. As such, at any time, they should be as close to $1 USD (give or take 5%).
The Pump
Next, I was surprised a week ago to see STEEM Dollars double in market cap to $2 USD per STEEM Dollar. Then I was blown away by $8. And today I am in a daze that it has hit $18 USD (1,800% return in a few days).
All good things come to an End? (even Tulips)
As an educated guess, the Steemit community could vote on returning STEEEM Dollars back to the price they were proposed in the White Paper. That is $1 USD. I am also anticipating that the Pump would be over before Christmas.
Otherwise...
Whomever has the capital to manipulate this $25 million market cap could go on performing this over the coming weeks, so there is always the potential they run this thing up to $86 USD if the Steemit community and developers do not act prior to the next P&D in creating a pegged STEEM dollar in time.
Causes Have Effects
I also noticed this statement in the wallet, "Tokens worth about $1.00 of STEEM".
If $15 USD or $86 USD is equal to $1 of STEEM, could this be an indicator for a massive climb in STEEM too?