Bitcoin rockets against the trend! Only one king of the hill?
Hi Steemit World,
Did somebody just decide there can be only one?
While we are used to seeing cryptocurrencies go up and down in a volatile fashion, I would suggest that this is not 'normal'! To me, it almost looks like manipulation... Since when does Bitcoin surge not boost all of its disciples?
What's more, I would suggest that the 'normal folks' that have been the backbone of investment in cryptocurrencies would not suddenly drop all their expectations for 'Bitcoin' - alternatives 'en masse'. This seems really 'fishy' or I missed today's news somehow. The only place where you'll see such behavior are the corrupted financial markets. Ooops.. maybe greed did corrupt crypto currencies already and so called 'Big Money' is already calling the shots. The only other explanation would be that it has to do with the 'Bitcoin Cash' story. Quickly buy some Bitcoin and end up with coins on both 'chains'.
Whatever the real reason, I just wanted to give some food for thoughts.
Anyways, I hope you find some value in my post, if you like it, vote it up and have a magnificent day!
@silvergold at your service :-)
Chart source: Coinmarketcap.com
I just excanged all my altcoins to btc (not steem because it's in steem power) at around 2500$. I hope it keeps going up :D Might even exchange some btc to steem
So what was your motivation? The upcoming bitcoincash chainsplit?
Yes, exactly. I believe right now is a good time to buy because after split there is nothing stopping bitcoin from going up. Do you think the chainsplit will bring the value down?
No, not really. The market will have to decide for a winner between the two. I think potential regulation, government crackdown would be the main things to look out for. Besides that, the only thing to stop Bitcoin could be Bitcoin itself and I mean the 'squabbling ' between all those groups deciding on Bitcoin's future. In the end the reason that 'Bitcoin' is 'KING', is really because it effectively is the most popular brand and most accessible among crypto currencies. Time will tell... :-)
i know all of your posts are wonderful, and i read them @ronaldmcatee
Well that's great to hear Ronald! Thanks!
i am holding LTC for long term.
Well that makes 2 of us. Litecoin is also a top pick of mine for the future.
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STOPI am your follower :) and u know that ? your posts are super, post more like these! @ronaldmcatee