Steem 24 Hour Prices
Bictoin 24 Hour Chart
Ripple 24 Hour Price Chart
LiteCoin 24 Hour Price Chart
As you can see from these price charts Crypto Coin prices move according to how Bitcoin moves, in this 24 hour period there are many ups and downs but at the end of this 24 hours this was summarized in a small decrease in price in most alt-coins, following BTC's lead.
Now I wonder why would Steem follow the same pattern of the other alt coins, I would think that being a good percentage is locked up by you having to power down to get your Steem from Steemit we would see a difference in the pattern and yet there it is. So the only reason this can be, is that the big whales who hold a lot of this Steem supply must be on the inside knowledge with the Bitcoin whales, better said I think they are the same, and the worst thing is I think these whales are really no more than proxies for the big money players, you know the guys who really have the money in the real world.
I see a lot of articles on Steemit about the JP Morgan CEO trashing BTC and then buying large amounts at the new slashed price, I really don't know if this is true, but I wrote an article a few days back saying that this would likely happened,apparently on Steemit only if some trending guy says things will it be believed and up voted, for example right now I don't hear much from the bulls and their bullish advice on crypto they are just talking about the fact that this is in reality a correction that was coming, I bet if the price bounces back,(I think it will and apart from that I do hope it does) they will be back with the I told you so articles.
Frankly I believe Crypto is a testing ground for the big guys, they are seeing if things like this work, and then pretty soon they will come out with a super crypto coin that will take the markets by storm, and that one will yes, probably start taking over what fiat does, but unfortunately it will not be the dream people have of an independent coin, it will still be controlled by the same oligarchs.
Of course this in a certain way is good for the people holding crypto as most probably the price of these coins will at least be constant and hopefully it will go up.