When altcoin pump?
So, you may have noticed the sharp spike in bitcoin prices. Looks like we're up above 11k. So, that's healthy. Question to me is when will people holding bitcoin look around and see all the cheap altcoins that haven't followed btc. This second people are still chasing... but how long will that last.
Pump is actually a pretty good analogy because it's about transfer. I know some people are selling alts to chase bitcoin, but at some point bitcoin starts looking overbought and people will be looking to get out of bitcoin and into other things that look like a better deal. That may start next with the majors, but eventually those won't look like great deals either.
At some point you're holding a bitcoin and realize it's worth 30,000 Steem. When do you stop chasing bitcoin prices and start pumping alts?
I don't know that answer, but my guess is that we're not that far off.
Positive Upward Cycle
One of the things about Steem is that I think it's more volatile than any other token. People earning it has something to do with that and also SBD. The fact that you earn means when prices are higher more people want to earn it, and the opposite when it's lower. That puts a lot of buy/sell pressure on the system at both the highs and the lows. SBD also makes a funky case too. Keeping it stable when price is low means Steem gets REKT. If SBD starts pumping because it's a short supply token people use it to buy up Steem at favorable rates.
I personally think we're pretty close to the next pump for Steem. There's a lot of development people haven't heard about, but if prices start going up again people will pay more attention, and the long crypto winter will end with a bang as all the hibernating Steemians come back with their "Hey, sorry about the absence. I just didn't give a shit about steem while it was at 40 cents, but now that's it's back above $1 I'm stoked to be here, remember to upvote, follow, and resteeem me!"
Anyway, if you happen to have some bitcoin
Now, might be a good time to swap it out for some Steem.
May I also interest you in some Monsters at steemmonsters.com or steem-engine.com for some tokens there?
I have a feeling things are going to go up in price around here pretty soon. Enjoy the ride.
I saw this before and I think we will see the same scene which is when Bitcoin and other crypto dumps Steem pumps
Unfortunately i sold all my btc for steem at 7000 satoshi
100% - so maybe your wounds can heal...🙂
Aye thank you. A few 1000 of those and I'm golden
Got the same feeling. If BTC holds those levels around 10-12k$ alts won't be long to follow. The worst scenario would be if BTC happens to drop hard without giving time to alts to follow its rally. That would be very ugly.
Judging by the last hype cycle, It is rational to think that alts will pump only after the big majority of people will be comfortable with a fully established btc bull trend. I remember back in 2017 when steem had an explosive bull run, most gains were made in the last months of the hype cycle. So accumulate now while you still can people! It will definitely shoot through $10 in the next 1-2 years :D
!dramatoken
Get rdy for some price drama
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It's all Tether + LEO manipulation unfortunately. Both owned and created by Bitfinex.
Shit is gonna get crazy on prices. I'm getting ready to sell some on way up. Last time I didn't and I would have had 100k usd...
I certainly hope there will be a nice spike in certain altcoins. Last time it didn't make sense for me to sell bc of personal situation, but now I am "free" and it would be nice if I get a few thousand out of this ^^
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It is time and I am ready for any positive eventualities in prices now @aggroed :D
It has been a long hibernation.
I hope it really!
But I don't, @steemit is powering down and selling at any price:(
If they stop that, the price can go to the moon:)