Bitcoin has been on the rise while steem , ethereum and other altcoins have seen dips in price . The reason is the next bitcoin hard fork: when bitcoin is being divided into two different currencies-which might occur around November 13- when the so-called SegWit2x protocol is adopted . Moreover, the possibility of getting the second coin for free ie for those who hold bitcoin has led to many people selling their altcoins including steem and buying bitcoin leading to rise in bitcoin price. Here are some points to note:
- Price might Dump: it is possible that bitcoin price will dump to level of last month after the hard fork because after getting free coins there will be rush back to altcoins .
- Steem Price rise: steem will see a rebound in positive area (including other altcoins like OMG, Ethereum, Neo ,EGas etc) . Therefore it will be a wise thing (if you have the cash) to buy steem now because the future is very bright.
- Don’t Power Down : I always advise people to power down only if they need the money to solve a problem. Do not power down your steem in order to take advantage of the bitcoin hardfork because you need reasonable quantities of bitcoin (which is too expensive) to take a positive advantage of the hardfork considering the time to power down. Steem power is the future because of its advantages (see my older posts for details) examples, interests, ability to reward great contents, ability to upvote your posts , ability to make a lot of money when steem price shoot to moon, ability to get good curation rewards and ablity to delegate your steem power for daily profits.
- Take advantage of Cheap coins: steem and other altcoins are currently cheap therefore take advantage of the cheap price and get more steem . I am confident that after the next steem Hardfork 20 and SMT token -come Q1 next year , that steem price will rise dramatically and we all will be glad that we remained faithful to this amazing steem project.
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For those who want to be an investor in Bitcoin wallet see X coins link: https://xcoins.io/investors?r=v93e2z