New to steem! I still believe that bitcoin have an important influence. Here is the Steem price and the Bitcoin price superposed. The correlation coefficient between those 2 is 72% starting from January 1st 2017 up to today. One note, the sudden spike at the beginning of this year is very interesting. Would like to know what happen!
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Many cryptos have that spike late dec?
Bitcoin lost 50% of its market mid dec to jan, causing many other cryptos to spike it can all be seen directly in the dominace charts.
When bitcoin kept loosing and we had a 160 billion market cap increase or 35% between 22-23 dec many cheap cryptos went crazy, the money had to go some where :) then back down again with the market moves!
check my latest post, a part of it talks about SBD unpegged to BTC https://steemit.com/steemit/@santana33/market-view-sbd-to-the-moon-with-1-5m-trxs-a-day-steem-most-used-blockchain-worldwide