Steem Monsters Cards: Safe Haven As Crypto Falls?

in steemmonsters •  7 months ago 

Hey guys! After my exams today I came home to see my Steem sitting on a measly $0.76, although disappointed, I was also happy as now my Steem Monsters are worth more Steem!

This got me thinking, is Steem Monsters a safe haven from falling Steem prices?

My Theory

Remember, the market is all in USD, which means that we don't really care about the price of Steem, right?

Possibly, I feel like a drop in price of Steem might mean less activity in the market, since you get less bang for your Steem but I don't think it would increase the sell pressure (supply) too much, it just means less upwards buy pressure (demand) which might decrease price a little, or price might increase less than expected.

Similarly, if Steem prices go up, I feel like this would encourage people to buy more Steem Monsters, as their holdings just increased (unless you don't hold Steem).

Conclusion

Overall, I feel like the price of Steem is slightly positively correlated with the price of Steem Monsters, but most of the price movement in cards should come from implicit market action, which I suspect will be very bullish, particularly the alpha cards!

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