As I wrote yesterday, it seems like some bulls stepped too hard on the gas pedal, and Bitcoin got too much heat. As much as I love to see Bitcoin above $13,500, as it was just 13 hours ago, I love way more to see Bitcoin growing organically, sloly, but steady, every day.
At the moment of writing, Bitcoin was down by more than $1,400, trading around $12,188, after briefly diving down to $11,754.
STEEM lost more than 10% in fiat, going down from $0.43 to about $0.38 at the moment of writing.
As always, this is not investment advice, do your own research and never invest more than you can lose.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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"Pride always goes before a fall" We all knew this was gonna happen, quick to rise, quick to fall.
Some people cashing out after the big jump
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last time it went wild but this time its a huge correction instantly lets see if it the growth continues or not
What goes up, must come down.
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its the right time to invest on alts :)
my choice
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I love how steem won't chase bitcoin up but it falls down with it lol. I'm just grinding it out and pulling for steem to break out
Yeah, the $0.40 peg for STEEM sure holds strong lol.
@dragosroua, In my opinion we need that kind of growth only which showcases the steady pace instead of Super Volatile Pace.
Thank you so much for this analysis. Stay blessed.
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Can you tell sir, when steem join the rally, as everyone is saying it is around the corner, but as per you, in how many days roughly we can see the rally. Don't worry sir, I know u will not give any financial advice, but at least Ur viewpoint on this will feel better for me.
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I have no idea. It depends on how soon Bitcoin stabilizes. Because alts grow when Bitcoin value starts to flood back into alts after a big pump.
Ok thanks
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It's nowhere near a guarantee that A) There's going to be an alt season, and B) That STEEM will be a part of that alt season.
Maybe, maybe not.
But there's a lot of talk right now that this Bitcoin pump is different, and that there won't be an alt season at all. Bitcoin maximalists have been saying this for a long time now. That it's time for the shitcoins to die out in a fire.
And STEEM, right now, is almost out of the top 100. It's not exactly an attractive asset. I wouldn't hold my breath waiting for a STEEM pump - even if there is an alt season.
The train may have moved on already.
Sure, people on the site are always calling for a big STEEM pump, but let's face it: the Steemit community consists mainly of bag holders who want to be optimistic in order to avoid suicide.