Bitcoin Up and Steem Down, why?

in steemit •  7 years ago 

I am confused.

Why is bitcoin going all the way up and right now it has reached a level where very few things go.

Someone told me that if Bitcoin goes up then the prices of Steem will go down and I have been seeing since the last few weeks and the price of Bitcoin is just going up.

I hope some day soon, the price of Steem will go up.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Steem did take a pretty heavy dip, to the tune of 17% to $0.96. It seems like when bitcoin holders get scared altcoin holders get petrified. At least that was the case with a few of the altcoins: etherium classic and ripple are down about 20%. Take heart altcoin investors!

Yes, and I am waiting to see when it comes back to normal price.

Of course the price of Steem will go up. Steem is just a year old. Just give it time.

https://steemit.com/steem/@jerrybanfield/best-usd25-000-000-investment-for-2018

@reported has voted on behalf of @minnowpond.
If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.

            To receive an BiggerUpvote send 0.5 SBD to @minnowpond with your posts url as the memo
            To receive an BiggerUpvote and a reSteem send 1.25SBD to @minnowpond with your posts url as the memo
            To receive an upvote send 0.25 SBD to @minnowpond with your posts url as the memo
            To receive an reSteem send 0.75 SBD to @minnowpond with your posts url as the memo
            To receive an upvote and a reSteem send 1.00SBD to @minnowpond with your posts url as the memo

CME recently announced they were going to start trading Bitcoin futures which has signalled Bitcoin will be a mainstream class asset. This has caused alot of FOMO in the Crypto market and many people to buy bitcoin that don't even know much about it or crypto in general. Also, not enough people know about STEEM yet and there are alot of mixed reviews about the platform.

Agreed. 10,000 is a magic number as well, I feel, that resonates with the news-hungry consumer.