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RE: My Cup Runneth Over (Trickle-Down Theory)
Great article! I admit I have stopped buying any other project out there and I have only been buying coins that I really use. Steem is #1. Then I have a bit of Bitcoin because he's like the General of Crypto, leading all the other coins out there.
I will probably buy a lot of the other stuff only after BTC makes a big jump up. 😃
Might want to be careful with that method. I can understand keeping your crypto in Bitcoin while things keep dropping, because people head back to Bitcoin when scared. However, the real gains will be with the altcoins when the market goes up. If Bitcoin goes from $3,100 back to $20,000 you'll benefit, but the altcoin market will likely shoot up a lot higher given their lower market caps.
All you have to do is look at what happened last January to see that Bitcoin did not gain anywhere near as much as the smaller coins did. Small cap often means bigger room to grow.
opinion, not financial advice yo!
That's what I thought last year and the inverse happened. While Bitcoin moved up until $20.000, all the alts lost a bunch to Bitcoin.
It was only after BTC dropped to $12.000 that the Alts made any gains towards BTC.
I know what you mean... Steem is my number one as well... I feel stupid buying other coins that I don't even use. It also feels so stupidly oversold right now... how could I not.
The main thing that should be pointed out though is that Steem is connected to the cryptosphere just like anything else. We might have gone from #27 to #54 but that's not going to matter if the market cap gets bumped up to 10 trillion. Crypto is a lot more valuable than gold.