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RE: Does Steem Rise and Fall with Bitcoin or Other Cryptos?

in #steem7 years ago (edited)

Well, since I'm still a newbie in cryptocurrency/trading and such, 6 days ago I cashed out some Steem and converted it to BTC. Since the BTC value was down at the time, I'm thinking that converting my Steem to BTC that time was actually a bad move considering the sell price was low. And I'm thinking if in case I invest on other altcoins, it's going to be converted to BTC when I sell so it's like everything hinges on BTC? (Except for the other major ones like LTC and ETH etc.)

So I guess this means we should always consider BTC and other major altcoins' price before selling?