Bitcoin Rallies Past $8,000 — Patience Rewarded? Et Tu, Steem?

After what seems like an eternity to most (but really wasn't), it seems that Bitcoin is finally making an upwards move with some determination.

Last I checked, bellwether BTC had moved past $8,000 for the first time since the end of July 2018. It's really only about 10 months... but for most it probably felt like the better part of a century.

Setting sail for... where?

I guess what's different about this time — as compared to previous BTC slumps — is the sheer number of people now holding the token, many of them probably first time crypto investors.

I suppose those of us who've kept saying "Just hold ON!" might feel a little bit vindicated, now.

I'm not an expert, mind you, but the very sudden rise is slightly alarming. But maybe that's just what we have to expect, with these things... there's no "slow gradual rise" option.

Steem Showing Signs of Life?

There's mostly GREEN on the boards among the top 100 cryptocurrencies right now. Steem has been lagging a good bit, though.

We're currently 61st in market cap; rather sad for a project that was not only top 20 for quite a while, but was even top 5 for some time. What happened here? How did we end up sinking so far?

Red Hot Pokers... the hummingbirds love them!

The thing that puzzles me a little is that Steem is — in many ways — one of the most functional and active blockchain projects out there... yet not very many people are particularly interested or excited about it.

Although I imagine that if the price does start to tick up again... site activity is going to heat up, as well. I expect we'll start seeing some old "familiar faces," maybe even a few of the ones who "rage quit" with great drama...

Funny how much money talks...

Patience Rewarded

I've been around the investing world for a good 30+ years, and the world of crypto investing is easily the most impetuous and impatient I have ever been part of.

It used to insult people more than it does today when I would say that most crypto investors aren't "investors" at all, but rather a group of fickle gamblers and speculators.

The brightest wildflowers on our hillside...

The only thing that comes even close is the old time "pink sheet" stock market of small growth stocks of insuffiencent market capitalization to even be listed on the NASDAQ. A few well placed rumors could move a stock 300% in a couple of days, and market manipulation ran rampant... even though it was — technically speaking — illegal.

I just hope that some of us who have been patiently powering up our Steem for a while will be rewarded... and that the potential enthusiasm following the Bitcoin rally might spread to us here. BTC is loosely speaking sitting at about 40% of its all time high... I'd take even 40% of Steem's ATH at $3.37 with a smile.

But I guess only time will tell... but hopefully there's a chance things are turning around.

Not gonna hold my breath, though...

Where do YOU think we're heading? Is this going to be a long-term rise... or is it just a "fool's rally?" Comments, feedback and other interaction is invited and welcomed! Because — after all — SOCIAL content is about interacting, right? Leave a comment-- share your experiences-- be part of the conversation!

(As usual, all text and images by the author, unless otherwise credited. This is original content, created expressly for Steemit)
Created at 190504 00:37 PST
1015