Do you know steemdown? Steemdown.com is a website where you can find which Whales are powering down. I'm not sure what the whale cutoff is, but there are roughly 100 users with $100,000 USD worth of steem or more. I'm pretty content calling those accounts "the whales." @bitcoiner put this site together. It's pretty cool. I wish it would tally the amounts powered down by day. Maybe list the amount powered up by the community too to put it into perspective.
Anyways, because of the price spike there will be $2M dollars worth of liquid steem released by power downs looking to get some USD out of here just in those top 100 accounts alone. 42.5% of the top 200 accounts are powering down as we speak. I think the post spike power down will deflate the price a bunch. That however can be countered by the price spike generating an interest spike in steem and owning steem. There are about 1k new users coming on board each day from what I can tell, but how many of them are investors rather than bloggers hoping for a piece of the steem pie for time and effort.
Personally, I think we're going to see the price go back down. I doubt it goes back to $0.20 any time soon, but I don't know anything. Just like everyone else I didn't buy $10k worth of steem at $0.07. I'm bearish still, but not as much as I was before.