BTC pulling Steem down?
We talk a lot about the importance of decentralisation because it's a key part of all true cryptocurrencys. But currently we have a situation where the price of currencies is largely centralised towards BTC.
Now I'm not saying BTC is bad, it is the first and largest crypto with pioneering technology and without BTC there is no Steem. But it comes a point where alt coins need more separation and at the moment bitcoins crashing is in my opinion the reason why the whole market. This is due to it's dominance and trading pairs.
It seems puzzling to me that Steem is shooting down when in fact it is growing and the development on the blockchain is only increasing. But why would anyone invest when the coin that you have to transfer into to get Steem is crashing.
Maybe I'm wrong and Steem's true value is really finding itself. But it wouldn't hurt for a Steem to Dollar trading pair. We need for people to be able to join Steem without having to also trade in Bitcoin. And with the devolpment within the community, I hope it isn't far away.
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There has been lots of positive news for Bitcoin too. The low price for Steem doesn't bother me. It would be nice if it could move in a different direction to Bitcoin but I won't complain if it keeps the correlation on the way up
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