The entire crypto is in the shitter right now. It will take time for the dust to settle. Just because STEEM received the highest rating of all cryptos, it's still crypto, and the crypto world is still dependent on BTC.
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I know that right now everything is been hammered... but as well I think it takes a few days until this news reaches the majority of investors.
Either Bitcoin is going to recover, or it'll die. Either way, new trading pairs are being added to exchanges, and bitcoin is not going to continue to dictate the market like this.
I think it will not recover this time if it looses the number one spot... The tech of its competitors is much more advanced...
However I feel that Steem is slowly setting itself apart. If Steem followed the same trajectory as Bitcoin's dive it would be worth less than one dollar today. I believe the fact that we're still able to produce this kind of cashflow in such shitty conditions proves the stability that the Steem network is experiencing. Just hold on @schattenjaeger. I believe that there are coming times when Steem will rise while BTC tumbles
Your word in gods ear! We are seeing this effect right now since December...
Agreed. Mexbit, do you think the price of Steem will soon diverge from the price of BTC and the greater cryptocurrency cap? It seems to me that Steem is more than just a crypto, it comes with a community and an amazing website and Dtube and so much more. I feel the value of Steemit and Steem will soon take on a power of their own, and not trade directly along with BTC. : )
In the shitter = Buy Buy Buy! 😉
That's the spirit ;) Buy and hodl!
He's still sticking to his bet too...lol
I bought some yesterday, is going up now!!!