Vlog #112: The beginning of an altcoins Rubber band effect?
I woke up today to some glorious green markets. That's always fun.
I'm hoping this is the start of what I like to call a rubber band effect where the altcoins will be dragged up by Bitcoin now that it has lost a little bit of its awesome upwards momentum.
(When the momentum of Bitcoin is too strong people stay in Bitcoin and the alts stay behind, when Bitcoin stabilizes it will drag the alts up. Like there is a rubber band between them)
It will be an exciting weekend!
I'm also happy because my friend @bennierex and my mom bought STEEM yesterday and the day before @ $1.01 and it has proven to be a very good entry point so far!
STEEM = $1.14!
I talk about it more in my vlog (starts @2:00).
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nice post my friend, it's nice to see your garden looks really neat and clean and it really give nice feeling when we live in a clean garden, well honestly saying i don't know about the rubber band effect but after watching your video i think that it's great theory because when bitcoin holds at a certain point then peoples starting to look for alt coins and alt coins starts to move up hence it works like a rubber band and in my opinion it should be used as one of the indicator to detect alt coins movements, i hope now bitcoin look stable so we should see the rubber band effect soon, thank a lot my friend by sharing your good knowledge with us, it's really helpful, Stay happy my friend and enjoy your weekend.
Thank you, and have a great weekend yourself!
wow another good one from you bud, I believe that we think alike sometimes because I posted almost the same thing (pls check it out) I think that bitcoin is and will remain the king and yes a big smile on the face of crypto lovers and haters are in panic mode... wish you a blessed weekend.
Steem cannot stay below 1$ for a long time, it will move up and walk along the bitcoins footprints.
Always good to see green days, of course I managed to buy some more alts right before bitcoin started to do it's thing. Luckily I didn't invest a whole lot.
@exyle It is even better now as I write this STEEM $1.17 USD, between you and I and @bennierex and your MOM @clio we are all UP on the Steem we bought yesterday on the Pullback in price that was down around $1.00 STEEM per USD. Very Exciting !
I think the rubber band effect will be temporary because more people will want to profit from the fork and will leave the altcoin market as the fork's deadline approaches.
It seems you were right :)
An excellent start to the day, as predicted by the Altcoins are leveled and the course begins to acquire stability after correction. I am also very happy about this. Thank you @exyle
Great post :)
There are much better coins than Bitcoin. It only has most of the market cap because it was the first coin.
When the stigma and realization that the are lots of better coins than Bitcoin then there will be a massive shift in the markets.
Its just a matter of time in my opinion.
Have a wonderful day to you all. :)
It's great to see our loved Steem in green mate! Hope it keeps up rising in value and achieve the target of $4-$5 by end of year!
This seems to be the trend, its been like this for a few months now. But you can't always bank on market trends in the crypto space. It's never the same.