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RE: Steem @ $1.07 - Plumbing The Depths of $1 Support At Bittrex Today
a lot of altcoins are down. It's probably due to the rise of BTC and people moving out of the altcoin market temporarily.
a lot of altcoins are down. It's probably due to the rise of BTC and people moving out of the altcoin market temporarily.
I believe main issue is FOMO for BTC affecting altcoin and STEEM is taking big blow. However, there could be other issues such as scalability that may be hampering STEEM's value. Poloniex has disabled STEEM/SBD transfer again. There are other small issues such as big whales are power-downing big chunk of STEEM, recent voting downs of some big users by dan and ned. However, I believe when BTC settles down and as @lexiconical said BTC scaling problem comes back, STEEM will start correcting in positive ways.
I think they're going to end up regretting that. I think the alt-coin market is currently trailing the BTC market. Once fees and delays come back to BTC big-time (and they will, soon) we'll see what happens!
then we be sitting pretty ;) Money will move back in.. BTC will have dips.