When You're Looking at ETH / USD Going Up and STEEM / ETH Going Down...
I mean, don't get me wrong... I love the fact that alt's have a tendency lately to hedge BTC and ETH... but damn can't we have some kind of asymmetric correlation like in a good old fashioned bull-market? e.g. correlation on down moves is negative (GOOD) but correlation on up moves is positive (even BETTER).
Of course that would mean STEEM ratchets up with every volatility spike... A trader can dream...
As it is, definitely seems like there's a steady flow of coinage headed towards the exchanges. I will continue to oppose this flow for the time being, or at least until I update my internal latent state when new information arrives.
STEEM/ETH
Suffer these fools...
This kind of price action is an excellent example of why you need diversification. If you were totally in alt's today, then you might be in a pretty bad mood even with the general rise in the big market cap cryptos like ether and bitcoin.
ETH/USDT
Meanwhile, the big market caps are rallying
My main day to day focus continues to be ETH, STEEM, and EOS, although I am curious to hear anyone's thoughts regarding Agrello (DLT) which has been called to my attention by one of my more speculative algorithms. I'll be honest, at this time I don't really get the direct reason why their token has value, but the dev team seems to be in the middle of some interesting sounding things like this whole ILP concept... so their might be some indirect or future value but for right now the jury is out but I'm def digging a bit deeper into how this all fits together with their token...
This is why you keep some of your holdings in a stable currency such as btc. So that when market goes dud, you can buy up cheap Alts at no consequence.
I personally love dips as it allows risk free accumulation.
Today was a fucking disappointment, all my investments of importance have not done shit. And the day was extremely bullish. What the fuck, seriously?
yeah i feel u... price of diversification is what i keep telling myself
now that ether is pulling back a bit the alts are stabilizing at bit as well... see if that continues
Fuck man, makes me question if my investment in steem was a grave mistake, among others that already has ruined me.
Oh, man. I yearn for the days of January 2018 when the STEEM price was $7.30. There was so much hope and optimism in the air and now, I don't know what to make of things.
At least things are a lot better than they were in early April when I was convinced the STEEM price was going to drop below $1 and thankfully didn't. It got close though.
I think in the long-term, the only thing that is going to make the STEEM price more stable is growing the userbase of the platform, improving the content and solving some of the fundamental issues that the Steem platform has.
in total agreement here... its interesting u bring this up cuz @lionindayard and me were having a few conversations offline talking about long term scaling of STEEM network... he just wrote a post talking about his views on the subject here which echo a number of my own concerns, especially the onboarding process and how we scale the network to the traffic / user volumes of traditional social media...
I agree the platform has issues that need to be addressed but this won’t stabilise the price. Crypto is volatile and will remain so until the entire space is much more mature (and probably at much higher levels). At present all prices are based on speculation!
who even trades steem/ether
Today it was lousy to even check, but that's life in the crypto.
all part of the game
I look forward to a time when each project is assessed on its individual merits and not on the fact that it smells like crypto so must be good/ bad!!
Yes, Steem is really undervalued and many Altcoins are in that list because, there is particular reason behind it and that is Bitcoin and Etherium are the giant coins of the Crypto market and people prefer to use these as liquidity so they sacrifice their Altcoins for the these two Cryptos, means they sell Altcoins and buy these two coins or they just covert it, but in my opinion Steem is really undervalued and as an whole economy Steemit should get more repo and the liquidity of Steem and SBD should increase to greater levels. Thanks for sharing your thoughts and analysis. Wishing you an great day. Stay blessed. 🙂
Crypto currency is developing rapidly. This is a good news for people who know how to use it. But for banks it is a big competition. The banks will have less profit. You have created useful information for many people.
Nice chart analysis!!!
Here is the my analysis for STEEM / BTC.
https://steemit.com/altcoins/@rtytf/steem-btc-5-1-18-is-downtrend-in-steem-just-getting-started