Why Hasn't Steem Been Taking Off With Bitcoin??

in steemit •  7 years ago 

It's likely that most of you reading this have been following the fantastic rise of Bitcoin lately. Having followed the price of Steem to the price of Bitcoin over the past year I have noticed that Steem usually is lockstep with Bitcoin on its peaks and valleys.

What give this go-round?


image courtesy of google

Bitcoin has been on a tremendous rise since it's own hardfork. How come Steem has been holding steady around $1.30? Has the price of Steem leveled off? Is our community stagnant in growth. Are people cashing out and moving on to other cryptocurrencies?

I am still a believer in Steem and the Steemit platform, but the fact that it hasn't been following the latest Bitcoin spike has me concerned.

Anyone else noticing this?

Am I being over paranoid?

Let me know what you think.

Please Upvote, Re-Steem and Follow Me @roundoar03

Steem On!!!

steemit steem cryptocurrency bitcoin stagnant
7 years ago by

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      ·  7 years ago 

    I think this is because of @dan leaving Steem for EOS and also the large power downs by him and some other whales. These seem to be depressing the price

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      ·  7 years ago 

    That could play a role for sure. This platform has so much potential I don't see why people would abandon it. Steemit actually serves a purpose!

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        ·  7 years ago 

      I've noticed it and it's concerning. I was also curious if people were cashing out. I was watching a YouTuber last night who said they were done with Steem and were withdrawing everything they had.

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        ·  7 years ago 

      Thanks for your response. Massive cash outs would definitely keep the price down. Hopefully that doesn't become a trend.

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          ·  7 years ago 

        I love this site but I'm still on the fence about whether it's going anywhere or not. I've noticed my payouts go down over time.

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