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RE: Aggroed states STEEM to $50 by the end of 2018! STEEM no longer following Bitcoin!
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!
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