We're only higher from a USD point-of-view, because BTC is at ~6000 USD, instead of ~3200 USD. When comparing Steem to BTC, we've lost a lot of value.
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We're only higher from a USD point-of-view, because BTC is at ~6000 USD, instead of ~3200 USD. When comparing Steem to BTC, we've lost a lot of value.
Yeah, it's true that BTC has gained relatively more since the December lows. However, it would've been a different story a month ago when STEEM was about 52 cents and BTC was about 5200 USD. There is very little useful information to short term price action.
Yes BUT perspective..
I share this with you because I am grateful for your contribution to the community. It is important.
Alts are showing high volume but near the lows of this cycle which is also its longest bear market period, 479 days. Looks like in past cycles it was also always darkest before the turn. What do you see?
I added the bitcoin halving periods to the chart above which only goes back to 2013 meaning only the 2016 halving is able to be included. The 2012 falls several months short. It took about six months after the 2016 halving for alts to start their bull run.
Alts should have their time right around that time period which is about 6 months after the halving. Steem should be appreciating in satoshi valuation around this time.
Makes sense. The price of Bitcoin brings many new people into the space. They think bitcoin is too expensive and start speculating on alts.