Let's face it Bitcoin is THE King of Cryptocurrencies. Don't let someone make you think otherwise. When it moves it makes alt-coins move with it. It can make the market bleed even as it holds it's levels.
The numero uno on your cryptocurrency list should be Bitcoin. More Satoshis you own the greater number of alt-coins you can purchase from the dumpster.
Let me explain in the context of STEEM.
2 year ago on 21st July 2016. 1 STEEM ($3.84) equaled 0.00578635 BTC or approximately $42 in today's value. 2 years down, we're valued $1.42 or 0.00019294 BTC.
It doesn't take a lot to guess which amongst these two tokens came out as the clear winner in terms of value appreciation.
However we need to remember that STEEM has had a fantastic run in 2017 after the massive slide in price after getting on exchanges in 2016. So we're actually better off today than we were 1.5 years ago in many ways except for the value of STEEM in BTC or in USD for that matter.
I've gone back and forth with STEEM and BTC and somehow managed to buy more STEEM in the past 2 years. This year however I've decided to keep hodling whatever Bitcoin I have left after purchasing STEEM at these low prices.
STEEM's value in BTC matters a lot if you want to accumulate some Bitcoin with your earnings and hope to buy back a larger amount of STEEM in the future. It's going to get harder to do that if BTC pumps from here to break it's last ATH eventually.
Ofcourse if STEEM pumps up from here and continue growing stronger against BTC then we might have some hope. But when some people constantly dump STEEM on the market it isn't helping anyone.
Many of us early adopters have been buying STEEM all the way from 2016 in whatever amounts feasible. I've done the same and I continue to do that. I don't hodl SBD but instead keeping trading it for STEEM and I always keep some liquid STEEM for trading on the market.
But the thing is
Last night I dreamt STEEM hitting $350. I was rolling around in bed enjoying the bliss of owning a greater number of satoshis. I woke up soon enough wondering what’s going on and found it at $1.37
#REKT
STEEM is CHEAP against Bitcoin and if you are hodling Bitcoin, looking to increase your stake on this blockchain then now is a great time to be doing just that.
But I always recommending hodling some BTC. It helps to have a slightly diversified portfolio to avoid waking up and having to smell the coffee!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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