RE: Stock Market is up so is Steem ..

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Stock Market is up so is Steem ..

in trade •  6 years ago 

Seeing that as crypto is becoming more popular with traditional investors, I think we will see closer correlation with the behavior of the stock market. People are seeing Bitcoin as an investment right now more so than as a utile currency. Therefore market forces of taking profit/stopping losses are similar to that of the stock market. Over time, it will not be correlated (Bitcoin is not an income-producing asset). Please let me know your opinion to what I have replied!

trade
6 years ago by

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      ·  6 years ago 

    I see.. You are clever since you acknowledge that over a long term Bitcoin has a disadvantage is it doesn't produce any income all there is to it is the appreciation in the price which is only due to its popularity at this moment but when the things become normal and crypto won't the normal thing anymore then it is bound to crash ..

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