At this early stage of cryptocurrency developments, speculation is one of the main drivers of price and growth. Steem lacks of strong speculation among investors.

I'm reading a book about Livermore, where he is telling a story exactly about this case. When his friend - a smart and experienced guy wants to pump the price in the bear market. An Livermore is trying to convince him that even the best manipulator can't do anything in bear market.

Livermore believed that no degree of manipulation could take a stock higher in a bear market climate.

If you post for the sake of rewards, just ignore my comment.