If you look at Steem in terms of Steem per BTC it has faired better then many coins in the last month. The main reason for bothering with alt coins for me is to get in when the pairing to BTC is low and then out once it gets to high.
Just food for thought on Steem, if you bought Steem on 12/31/17 at what shows as the high on Bittrex you would have paid .0003050 BTC per Steem, today that is worth .0004954 BTC per coin. It peaked at around .0005757 a few days ago.
The drop in price is due to the drop in BTC value as steem is actually worth about 62% more (value per BTC) then it was just at the end of 2017.
That said as long as Steem can hold these values if we see a price increase in BTC to say $15,000 we are talking about a price of $7.43.
Now this pairing of prices is the biggest reason your portfolio of alt coins will see such large drops with BTC drops.
Side note if you had sold all your Steem and kept it in BTC you would have 62% less money then you do right now for the amount you hold in Steem. So be thankful your main coin is Steem
Yeah, I am pretty grateful I didn't move more out. Really goes to show that sometimes the smartest course is to do nothing!
Actually I've only moved SBD out, and then only some of it. And I did get to take a nice ride on BTC when Steem and SBD were both at $1, then trade back for Steem to power up. It's how I first got to the magic 500 Steem (hooray slider) and then it felt good so I kept going.
With SBD to Steem below parity at the moment and BTC so cheap, I'm wondering if it might be time to try this again instead of powering up.
Need to get that slider, it's a good goal. Been doing some trading between SBD and Steem here and there so want to keep my liquid steem as such and keep making little profits here and there. Hopefully grow it enough to then power up and get over 500 SP.
It really does allow you to be much more interactive on here, and reward posts a little more thoughtfully. Plus I really like being able to leave a few cents when someone writes a thoughtful comment, since some comments can be as interesting as the original post.
Good luck in your quest!
I tend to upvote all the thoughtful comments on my posts. Hitting 500 will allow me to keep upvoting comments while still being able to reward authors for their posts. Really like being able to give votes to new bloggers and spreading around some votes to try and help motivate them to stay. Not easy to everything I want with only 20 votes a day...lol.