So you say BTC is not corelated to other coins ?
I find people saying that theres better coins that BTC, it will die etc. So it dumped today hard. Lets check other top coins.
You see a corelation in graph? :)
Yes STEEM too.
All coins are mostly denominated in BTC (like OIL is in USD) so if it goes down - all of them tank.
But there is good news. If you wanted to buy anything - now its the time probably as everything got cheap.
Chose coins and exchange, here is a bit of info from me.
Most dumped (aka cheap) coins today:
- OAX
- iOST
- HC
- ELF
- EXCL
- ARK
- PHX
- MER
Exchanges that have many coins and i use them no ID to register.
- Binance - the obvious top vol exchange, has STEEM
- KuCoin - i would call it younger brother of Binance with many NEO and ETH pairs
- BiBox - amazing China exchange, similar to other two above with different coins
- CoinExchange - many ETH tokens and anon coins like ZEC XZC EXCL
- COSS - many deals on ETH tokens for arbitrages
- Cryptopia - some decent coins that others dont have and nice volumes
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Well in 7 days I have an ACH clearing on Coinbase.... The price will probably be back up........ I will still pick up some Steem! :)
I think it's kind of stupid that the correlation is that high. Some crypto projects have totally nothing to do with each other and serve different markets. Most crypto have in common that they work on a blockchain but that's about it.
good time to buy the dip, perhaps?
i think so
great time to buy.
yes.
Who said BTC isn't correlated?
many people... many ;)
Keep steemin' @kingscrown, thanks for the posts!
all coin are pegged to bitcoin. bitcoin is the lifeline of crypto.
This post has received a 33.59 % upvote from @boomerang.
so meaning to say this hodl thing with sophia is only possible with btc? https://www.reddit.com/r/CoinsofCrypto/comments/9x7huy/top_4_coins_that_worth_hodling_until_2020_im/
I'm not worried about BTC going down. The thing I'm worried about is the market cap of Steem. Its dropping day by day. Steem has dropped out of the top 30 coins now.
There are many better coins than BTC, from technical point of view. Anyway BTC is the "Optimus Prime" of crypto and everything fall and rise with it. These huge dumps and pumps are always correlated. But on daily basis, there are many coins moves more or less than BTC, so potentially more room for trade.
Right now i dont see any coin which can take BTCs throne.
What I also hate is the fact people say if more coin get fiat then no more correlation which is just not true. In fact it can make the coin worse :P
it just makes more complex arbitrages
I find this mind blowing sometimes, when I read posts in which people complain about the price of steem without looking at BTC.
If you would have been a NEO hodler you would be as unhappy as Steemians about the price except you have fiat