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RE: Boom. BTC Hits $6K And $100 Billion Market Cap As Helicopter Ben & Jamie Demon Warn The End Is Near
It's quiet baffling to see Bitcoin hit the $6k mark and steem continues to loose value. Don't know how to put that
it's due to people selling their altcoins (such as Steem) and buying bitcoins before the 2 hardforks coming up, which essentially means people holding bitcoin will get free money (bitcoin gold and bitcoin 2x).
As they sell, the values of Steem and many other altcoins drop.
Coins like BitConnect is traded pretty much ONLY with bitcoins so its value is measured in satoshis, so as bitcoin's value increase, so do the value of coins like bitconnect
agree
Thanks for the explanation, makes sense and I understand the situation better. Enjoy your weekend
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Now may be the best time to grab alt coins cheap, while everyone is jumping on m bitcoin , Etherium, litecoin and such are barely moving or going lower.
When bitcoin settles, the others will play catch up and those who kept or bought some will make a nice profit also.
Playing cryptos can make you some nice returns...
Definitely, totally makes sense to do as you explained. Thanks for the input n enjoy your weekend
Rampant inflation in steem is also a problem from the ulimited 'printing' of new currency.
Large holders are losing more than they can earn over time.
Interesting point, if the small accounts as many of us here have are loosing their earnings and depreciating account values, I can only imagine how the big accounts are loosing. Thanks for the comment and enjoy your weekend