Bitcoin bid to buy Steem Numbers FALLING
🐒 The amount of Bitcoin bid to buy Steem at Bittrex and Poloniex this morning when I took this reading at 7:00 AM EST and the combined figure was only 85 Bitcoins and the Steem Price $1.34. The highest combined figure before was 932 Bitcoins bid to buy Steem and Steem Price $2.60
🐒 It appears that interest in Steem and other Alt Coins is low because Bitcoin is on a bull run but when the bull slows down hopefully the interest in Alt Coins will return
🐒
SUMMARY
The last time the Bitcoin bid to buy Steem on Bittrex and Poloniex combined was this low the Steem price was $1.15 and that was on August 17 , 2017
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SUMMARY
The last time the Bitcoin bid to buy Steem on Bittrex and Poloniex combined was this low the Steem price was $1.15 and that was on August 17 , 2017
I think a lot of the people who buy Steem, buy it to force rank their posts here on Steemit. I don't really see a big use case for it besides that, so what say you?
It is interesting alright. I hope the long term utility and value of Steem is reflected in the price eventually, but short term it is crazy volatile in the crypto space. Seems any new altcoin with no real value and a pie in the sky vision gets $100 to $200 million in an ICO
I wrote about getting scammed here I hope you care
https://steemit.com/bitcoin/@crowdifywepayyou/how-an-ico-can-easily-get-stolen-and-tips-for-protection
Although both BTC and the altcoins all got hit yesterday.
I am not sure the inverse relationship between BTC and the altcoins is still in play. It seems that many of them are running in tandem.
Buy the dips!
Thanks for sharing!
Yo ,
Thanks for the great content
bitcoin trading is high due to its high profit range, that's why more investment is bitcoin and less on alt coin making the demand for alt coin fall and so does price
That's an interesting angle and is a helpful way at looking at valuations. Effectively Steem is at an all time low. The growth rate of new users had leveled off a bit the last time i saw a post from @penguinpablo. The initial fall seemed to have been caused by powerdowns from the whales here. Felt like the founders bailing on an IPO to move on. Since then you are right Bitcoin has jumped and Steem is one of the currencies that has not followed. Perhaps the new money in flow is looking for more conventional investments.
I recommend to be patient because the steem will rise soon, because the steem has not yet found its own price. And if it founds... it is not small.
I used the pullback in the price of steem yesterday to buy a little bit. Thought it would be enough to push my account value past $3,000. It's at 2,996 at the moment 😂 so I'm waiting impatiently to see my it surpass the 3k mark.
I wonder what caused the broad pull back in cryptos in general yesterday? It was a nice opportunity to add a couple of coins to my holdings.
Should be a good opp to buy more! For sure going to pick more up again if it falls under $1 per.
If it falls under a dollar again I'm loading the boat! Been making small buys here and there lately with the low price and all.
Absolutely. ...pull the equity out of the house and put it all in steem.
jk.....
Time to back the truck up if it gets under a dollar. That will be an absolute steal.
For that to happen, I think the wind needs to go out of crypto in general, at least in the short term. A lot of momentum behind this sector right now. Things settled down this weekend but it is a holiday in the US....we will see when the street opens on Tuesday if it feels the same.