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RE: Steem Is Near All Time Low – But You Could Take Advantage

in #steem • 5 years ago

I've been in and out of steemit the last few months, but the bitcoin surge got me excited once again. Was actually thinking about doing the reverse of what you were talking about, trading my steem for bitcoin. It just seems that the crypto tides rise and fall with bitcoin, and when I sell my steem/sbd I convert to bitcoin to obtain fiat anyway. I'm not that well versed in crypto, but any thoughts on trading steem for bitcoin? let me know, thanks.

5 years ago in #steem by
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     5 years ago  
    • If crypto market surges, "altcoins" (all others than Bitrcoin) seem to climb more than Bitcoin. When the market falls, altcoins fall more than Bitcoin. At least that was what happened in the last years. There is no guarantee that the same happens over and over again, but is probably.
      It has explanations like the smaller liquidity (or trading volume) in the market of altcoins. Or, that many people are searching for the next big thing, big bang, a new altcoin to take over the 1st place from Bitcoin, or at least the 2nd place from Ether.