Will STEEM keep bleeding or are we near the bottom?
Altcoins, including STEEM, have been bleeding as of late...
Will the blood letting continue or are we near a bottom here.
Bitcoin has been dropping of late and the altcoin market has been dropping even more.
While no one is really talking about it, I suspect it has to do with the China ban and Exchanges/customers with China ties are being forced to unload altcoins, including STEEM.
Here's the latest price:
(Source: https://coinmarketcap.com/currencies/steem/)
My opinion is that there might be some more blood letting to come, though it will mostly be related to bitcoin.
If bitcoin continues to be weak, altcoins will as well.
If we see that big blow off top rally in BTC that many are expecting, STEEM should see new year to date highs as well.
What do you think?
Thank You for sharing Your insights...
AND Your wonderful work.
You are welcome.
We're still early to the crypto adoption process. Right now, cryptocurrencies are susceptible to market changes but as soon as more use cases present themselves, coins in general will have more value.
I hope this is the bottem and it won’t drop more it already has dropped much i think it can’t drop anymore