The price action in altcoins right now is interesting
When Bitcoin ran up to $10k, STEEM pushed up to $.23 but when Bitcoin dropped back down to $10k, STEEM fell from $.23+ down to $.17...
That doesn't make much sense.
(Source: https://cointelegraph.com/news/3-reasons-why-bitcoin-suddenly-dipped-under-10k-today-and-recovered)
Is there a way to short steem on any exchange out there?
That is what looks like happened with the altcoin crash.
It looks like whoever caused the dump in bitcoin also shorted altcoins and made even more.
Volumes exploded and it quickly took out any previous support levels.
What do you see?
I think it also coincides with the market sell off Friday before labor day weekend. We're in a recession so it was just a matter a time before investors sold off to use that money to pay rent & bills after exhausting their savings & unemployment checks.
Crypto investors also need to pay rent & bills. :D
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Yep that is a great point. The stimulus has likely run out for many people in America and now reality is setting in. I can't believe there hasn't been a second round of stimulus checks and another stimulus plan.
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