Great point! There is no reason that steem should be selling off this hard considering the amazing community muni ties jolt on top of it. The fear everyone has surrounding bitcoin is definitely dragging us down with it for no good reason! I agree USD pairs will help Steem for sure.
RE: USD pairs on popular exchanges could change everything
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USD pairs on popular exchanges could change everything
It will be great once Bittrex add the USD Pairs and we can also deposit into Bittrix.. should help out alot.
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So this is what interests/concerns me about all altcoins. If the prices of bitcoin goes way down people are just pulling money out and in the stock market you normally see other categories go up during a correction. Stocks go down, bonds usually go up. In the crytpomarket bitcoin crashes and every other of top 100 all crash as well. Investors are not selling bitcoin to buy something else as is the common practice with other type of investments. Outside of general fear or price manipulation ( which is becoming more evident with the ability to short some of these now ) only safe haven is to hold fiat and try to wait it out which only makes matters worse. Perhaps not tying BTC to all other coins could solve this. I would certainly like to see more predictability in how these markets work and so would most new investors.
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That is an interesting point. I wouldn’t say there’s a safe haven crypto. Like you said when bitcoin is down the rest go with it. The only option is to cash out into fiat. This defeats the purpose of allocating in if you’re just going to cash out to avoid the “crash.” I guess Tether was a solution to this but we all know that’s got some potential fraud or bad news likely coming soon. Until then I really feel like buying into the top coins then turning off all news and market updates for the next 12 months is the way to go!
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Since I'm new to this I'm going the route of dollar cost averaging. I've put in a small amount to start and will try to buy more each month at a predictable time. The key will remain disciplined during the large movements. After 6 months I plan to re-evaluate and see if this is for me. In the mean time I'll be researching smaller coins with less market share that have true potential for mass appeal. With so many options now that may be much harder than it sounds. 12 months from now I may not be able to stomach the large sways if they continue month after month and look to move these investments with less risk.
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