This is only true for the big ones, right? BTC, ETH, maybe LTC?
From what I understand, the altcoins tend to move in opposite directions as the largest coins - as such, steem tends to do well when BTC is depressed, etc... is that wrong?
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BTC, ETH, LTC, XMR, ZEC, DASH, XRP, all the popular ones... yes, but they used to have independent up/down movement, sometimes correlated but still individual. What has happened with the last drop, they all went down together, in a matter of minutes if not seconds. And they continue to move the same in sync no matter up or down. Looks like orchestrated by some huge player.
And STEEM yes, as far as my little experience tells me, it's like some little safe haven for the money to go to, as it has huge market cap and the price is not that volatile when compared to the others when bitcoin goes down. I might be wrong, i am not an expert. But was just wondering, did not see that synced movement in the historical data...
Gotcha, thank you for explaining all that. The big picture of the cryptocurrency market is way above my head, as I only have a few thousand dollars in the game... I need to rely on people like you for the info.
No, DO NOT rely on me :) Rely on @xaero1 if you need to rely on somebody, but the best thing is to rely on yourself lol I am exactly same level as you are, that's why i was asking that question, that maybe he has some kind of explanation to it :)