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 $1.15. 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
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🐒 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
It may also be (as in my personal case with the alt coins), that you can spread yourself too thin in speculation.
Personally I have decided I have the new companies that I believe will set the stage in life going forward... and now I am back to building my core holdings.
I went on a tear earlier this year as many great life changing prospects came up (and I did not invest in all of them), I even went so far as to sell Steem to purchase ETH to purchase Alts. I gave up Dolphin-hood for Minnow-dom to do that. But now I will just slowly add back to my core... it just so happens that it coincides with the rise of Bitcoin.
I know precisely what you mean. I do think Alts are going to catch-up once Bitcoin rebases, however.
I can not agree that all Alt Coins are falling due to bitcoin. It is now clear that the problems are with old projects. New projects have a nice pumps.
Pretty much thats it, people buying bitcoin , once BTC starts correcting other altcoins should raise again... I am holding my steem, though is painful to see steem go so much down, it actually was predicted...
I feel that after the hard fork and all the hype and confusion around it, people are starting to give deeper thought into what cryptos are and evaluating their investments more wisely.
This is shown by a divergence in the market. Earlier, when Bitcoin rises, all alts rise and when Bitcoin falls, all alts fall. Now this is no more the case. Each alt coin is having its own path.
Thats intersting information.
I'm sure there will be a nice correction soon that will put more interest in alt coins again.
What do you (as someone who is familiar with the subject) predict for the price of steem in the future? I'd really like to hear some opinions... Thanks! Upvoted!
I think the Steem price will be much higher in the future one of the things holding down the price right now is the Poloniex problem . Steemit has many good things happening for example every few days I post the Alexa traffic rank or the Steemit page views or the unique visitors numbers and these are all doing well .
Thank you for the answer, and enthusiasm!
The more we buy now, the more we make when it goes up! I hope it waits to go up until I have bought as much as I can stand at these low prices. I am planning a few more weeks of buying.
The market is still young. We should keep on buying and the next Bitcoin halving is fast approaching!
Buy and holds @pisolutionsmru for the moment. We should be taking advantage of this situation to get more coins and make some profits later on out of it when the price will increased.
I think that now is the proper time to buy steem and other Alts. In my opininion its absolutely normal to have a correction in Bitcoin price the next period that will push alts higher.
Very interesting
nice post