# We've seen this pattern before...

I stumbled across something that looks very interesting as it relates to steem, bitshares, and new all time highs...

Basically, steem has close to the exact same setup that bitshares had prior to its parabolic run to new all time highs in late 2017 and early 2018.

(Yes yes I know, everything made new all time highs in early 2018, but ignore that for one second)

https://i.postimg.cc/mrN02T98/EQr23g-TXUAE-cr-1.jpg

(Source: https://twitter.com/moonshilla/status/1228065584652443656)

# What is this pattern you may be wondering?

Well, steem has retraced 99% from its all time high...

It has been in a bear market for roughly 1300 days...

Now we are starting to break out above that bear market down trend line...

The same ingredients we saw with bitshares before it went parabolic...

https://i.postimg.cc/j2sqd8CJ/x.png

(Source: https://twitter.com/moonshilla/status/1228065584652443656)

A parabolic moon shot, followed by 1300 days of bear, followed by another moon shot that went even higher...

# Will history actually repeat here with STEEM?

Honestly, probably not, at least not like we saw with that bitshares chart.

What we saw back in late 2017 and early 2018 may never happen again in my opinion.

There was a lot of price manipulation and pump and dumps going on as well as possibly major manipulation via tether. It is currently much harder to pull those types of things off in today's markets.

However, that doesn't mean that I am saying steem will never reach new highs again, I am just saying it just might not happen like that chart of bitshares implies. 

Although, with Justin Sun now involved, who knows! :)

Stay informed my friends.

-Doc