Having watched the markets and a number of currencies, I see immense volatility. For this product that still in its infancy I would expect higher volatility, and with this volatility comes the opportunity to make money by short term trading to take advantage of the small ups and downs.
What seems to have happened is that, more and more people have got wiser to this, then we have people like Jerry Benfield, Soopaman and others promoting and educating these strategies, so I think to myself, if everyone is employing the same strategy, then you have a case of "perception/belief is reality", if we all use the same criteria to determine when we thing a currency will go up or down, we will come up with the same point, and if we all (significant) act on it, then the currency will move, if we all buy thinking it will go up then it will go up, and vice versa.
We look at the trends and we get a support and resistance, and we all act on it, or sufficient number act on it, then we are just enforcing them, we become that market. Now the wiser people will see this and will try to act first, the larger investors, or those that have formed secret groups and conspire to act in a particular way.
What I see is that the average investor, the small investor, the unsophisticated investor, the majority of the investors, who try to get short term gains of 10-30% every other day, will loose out, they will buy and sell at the wrong time, because the secret groups are one step ahead and they will gain at the expense of the smaller guys.
I have read posts where it seems on many occasions, small guys are trying the PnD and failing, everyone wants to get rich over night, but you have to be patient.
Be a Warren Buffet, pick a stock with a good team and good story, invest and wait, you should see real growth in quarters (3 months) as the only real way of gaining is when there is actual value created, and that value creation takes time, whether that is the development team creating extra features and enhancing the product, or its increase in users and adoption on platforms like SteemIt.
That is real growth, that is real value being created and to be spread around to all the coin holders and that is everyone winning. However the PnD is a toxic, dirty and unethical way, as in the short term for you gain someone else has to loose, you are not increasing the pie, you are trying to shift value (money) from others, by outsmarting them, and that is bad for the industry, it will invite regulators to step in, and it will also deter others getting into it, and right now we need actual hard dollars (FIAT) coming into the system to support it, because actual cash needs to be spent.
I don't know what the ratio is, but in the banking world, the liquidity ratio is about 15% i.e 15% of your assets needs to be in cash or for every $15USD cash, you can print another $85, and the same applies to BTC, for every $10 of actual USD being pumped in, creates x times value in for the BTC. If you scare of fresh USD coming in you will starve the industry.
The only win win situation is Long term strategy, invest and go to sleep, do it the buffet way. PnD will cause capital/value to shift from real companies like SteemIT that may need time to create value to weaker companies, and then we have the making of a perfect storm to have our bubble.