Well you can see it right here, Bitcoin surges and most other alt coins plunge, except a couple that have seen a slight price hike. So what can we expect after the hard fork?
Apparently what is happening right now is a lot of people are dumping there alt coins in order to buy BTC and be there when the hard fork happens and gain some of that Bitcoin Gold. If this is so, after the hard fork BTC should see a slump in price and people will probably start investing in the different alt coins.
Steem is the one I see that is having the most ups and downs, but always within the same range, better said it is practically stagnant, if a lot of people are powering down I am afraid we will see Steem go down in price for a good while, or at best stay at where it is right now.
If it were tied to BTC any decrease in BTC price would most likely see Steem rise in price but as far as I can tell it is more closely linked to the USD.
It is altcoins effect on Bitcoin, not vise ersa.
It may be the beginning of an altcoin crash, people selling their altcoins and using bitcoin as an intermediate.
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Excellent time to buy steem and alts?! I don't really get why people would dump ALL their alts so as to hold on to BTC, just to get a fork coin that 'could' be worth a max of 20-30% of their BTC? Oh well, guess we'll see what happens on this roller-coaster in the upcoming weeks. My prediction: BTC will be down right before fork, then up again shortly after fork. Most alts/BTC will be the inverse of BTC/USD, especially when it starts to correct or make new ATH's.
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Good point about BC Gold. (I got an unexpected $200 from BC Cash...)
I hadn't considered that.
Good catch.
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Are you just guessing, or is it a fact that people are powering down? I have not heard anything about that...If it is a fact, then you are right, there will be some extra pressure in STEEM price, but then again, that would be nice for the people who wants to power up!!
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Powering down is happening, but the problem will not be seen immediately as it takes 13 weeks to power down completely. Of course this could be changed if some people put in a lot of money in Steem but I don't see this happening right now, all the money is going to BTC, and it will continue this way until after the hard fork and then we should be seeing a change in investors choices, hopefully Steem will seem like a good idea to a few investors with a lot of cash.
It's the people with the big bucks who make the trends minnows just follow hoping to make some money.
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