RE: Bitcoin hits an all-time high of over $6000. What a milestone!
It's exciting, but the altcoin market is somewhat floundering since it spiked early this year... I'd love to see some of these gains spread out amongst other coins, especially since many of the altcoins are much more practical for daily use than BTC. It'll be fascinating to see what happens going into December and into early 2018... will altcoins have another major rally (against BTC value)?
Because though they are staying somewhat robust to the fiat value, they have been continually losing MASSIVE value to BTC for months. For instance, I started buying STEEM near 100,000 satoshis. It's almost 5 times less its value to BTC now!! This is a bit concerning, as I would have been better off just holding BTC this whole time. Same for all the other altcoins (except, notably, Bitconnect Coin, but that's another whole can of worms as I'm not convinced it isn't an elaborate ponzi.)
Either way, I will continue to be bullish on STEEM and keep powering up as I'm able.
Once BTC fork speculation goes away, end of this year and early next year, we may see another altcoin uprising. However, STEEM needs to be distributed to large number of people to release some pressure on selling. People used to hold hundreds of BTC or 1000s of LTC, as price rose, those coins changed lots of hands. Now very few people hold large number of those coins and can't consistently sell. A problem with STEEM is too much transparency, people should not know how I buy coffee and my buying habits. However, this can easily solved with a third party apps.
Great comment, and an interesting point. I agree that good development moving forward should mitigate some of the problems in the flow of value.