The Alt-Coins Show Signs of Life! Crypto-Investing
While I've been saying I didn't think the altcoins would recover until after BTC hits a new ATH (All Time High) the crypto markets per usual, don't care about predictions and constantly surprise.
Yesterday and today many alt-coins are showing signs of life. The screen capture above shows the Alt-coins against BTC and you can see many are having a good day, and Steem although not a top performer is also seeing some increases in volume and a 6.26 percent gain on Poloniex.
Here we can see Steem/BTC in 30-minute candles and we see some small gains.
It's just one day, but to me it is some evidence that the Alt-coins will see another season and Steem will still see some action in that market.
I have been saying we are in an Alt-Coin depression and one day doesn't change that, it could just be a day, but I think it is worthy of some optimism that Steem will recover some value when the next sustainable Alt-Season comes.
This is not trading advice, I'm just hopeful at watching the markets that there are better times ahead.
It will be interesting to see if the signs of life in the Market translates to more activity and users.
Seriously @whatsup. I'm excited with the charts today 😀. I hope it goes just as I predicted before the hard fork on STEEM. I knew something would happen towards the end of September. Let's hope the rise just began.
Nice post ✌
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Yes, not sure if it is the kick off of new behavior in the markets, but I see it as a positive sign.
I noticed the same thing starting yesterday. Lumens and ripple, iota, singularity and verge, funfair all pumping on the day. Maybe gaining strength on the short term stagnation of bitcoin?
It may just be a flash in the pan but I am looking forward to alt season at some point like it was autumn of ‘17!
What’s your favourite alt coin (besides steem?)
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Yes, it could be the flash in the pan, but I am taking it as proof of life.
When I see spikes like this it just tells me a new exchange or index fund is opening up. We are also almost one year off when btc hit a serious low.
What constantly surprises me is all the alt coins with more value than Steem. Most of them are completely non-functional and if I can't think of a use I just stick to the top 30 or so that have been around forever.
Well I have a theory that is different. I think when Ripple and Stellar pump it is often followed by new money entering the space.
Watch it. :)
Two alt coins I own dorectly and have also bought many times directly with USD or whatever.
Actually, in my case I don't want to use my Fiat exchange to buy many things like Steem (its sold on my Korean exchanges) so I use xlm and xrp cause they are cheap and fast to transfer (it's also their use case which makes them awesome). Perhaps this can also explain some spikes because they are a great way to transfer a lot of money into a lot of places cheaply and quickly.
The dominance of bitcoin going down slightly. So this could be a signal for an alt coin run?Isn't it?
It's at least a sign of life.
@whatsup,
I think STEEM price dropped due to 2 bad news, that still echo at the crypto world.
#1. 70% Lay off
#2. Steemit mass power down
Thanks for @ned, we got this deep sale price of STEEM!
$trdo
Cheers~
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hehe
I prefer to see this as a sign that its not all done and dusted for the alt coins.
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what a day to be alive hahah