Steem Takes 20% Correction Why?
As with many alt coin enthusiasts we are all patiently waiting the day that the price of alt coin is not married to bit coin. It's all well and good that bit coin takes a 10% correction like it just did. It's volatile and subject to big money manipulation. What ticks me off is that steem price has to pay double the correction, 20 percent. It's also not as if our great community has changed, our content creation has not changed, steemit hasn't changed, but...
Why Alt Coins Pay When Bit Coin Dives?
1. Bids are placed in bit coin for steem, lower bit coin value means lower bids for steem
2. People know that when bit coin gets hit alt coins suffer, people have been trained. Bitcoin sliding becomes an indicator to get the heck out of your alt coin now
Read more on bit coin - alt coin marriage in price:
If steem was accepted in more exchanges with fiat(dollar) conversion or, even better, steem had an exchange to accept bids in dollars and processing incoming and out going dollar transactions. Probably won't happen soon but wouldn't it be nice!
Your thoughts and comments always appreciated