I agree that BTS is probably a good hedge for a big market crash and/or crash in tether .....

However, since your last post for example, you surely noticed that Bitshares has still continued to drop rather heavily ..... it seems the traders look at Bitshares and see a rather dead project whose lead has long moved on to other things, most markedly his current project (EOS) that will supposedly do everything Bitshares can do and more better, and thus value EOS way higher already (despite it not being actually working yet).

Similarly they maybe don't see Bitshares' stablecoins gaining any significant traction despite being around for such a long time already, and so look forward to the myriad new stablecoins (e.g. DAI) coming out now as better bets ...

And similarly Bitshares' DEX, once somewhat unique and ahead of the ball, has now been around a long time without gaining much market share (and without more volume such DEXes [besides Bancor] don't really work very well), and is now facing a host of new + upcoming DEX competitors with more noise around them (and some of which have overtaken it already in volume).

Going forward, it's hard to see what will change this, or what could actually reverse the trend and prove the market wrong - Bitshares hasn't been growing in usage either for quite some time (it's a long way off its peaks, significantly moreso even than other blockchains), so maybe the market is right that it's better to bet on other future things - what Dan is working on now and other Stablecoins + DEXes etc - and that maybe they are what'll be bigger going forward?

I do agree that BTS appears very cheap .... however it also appears to have many markings of a classic 'value trap', so I would be cautious with allocating too large a portion of my portfolio into it ....