"One is never afraid of the unknown; One is afraid of the known coming to an end."
(Jiddu Krishnamurti)
Bitcoin at 4k - Ready to move both ways
(Source - Analysis based on Coinmarketcap.com Data)Since all the News on an eventual end of the Chinese CrypoCurrency Exchanges got spread within the last 3 days the Market lost about $20 Billion of it´s whole value. Bitcoin stayed around a price of $4.000 and seems to be stuck there until some further or final clarification on the situation will be released by the Chinese officials.
But as I´ve already mentioned in my last Post, there isn´t any evidence available at all and the Exchanges are still up and running at the time being. The whole panic is therefore at the moment just based on unconfirmed statements and rumors.
Steem suffers less than BTC
Something interesting that I´ve noticed during this downtrend is that Steem actually isn´t concerned as much as other CryptoCurrencies. Of course the Price went down due to the fact that its Dollar Value is still connected to Bitcoin itself but while Bitcoin lost more than 6% the last 24 hours, Steem only lost about 4% towards BTC.
It might be just one of those small indicators that the Value of Steem isn´t totally dependent on Bitcoin anymore. Sure, their Charts still look pretty much the same but in the beginning of a revolution there are always just some small changes to be seen.
What is your Opinion on the Situation?
I´m following the News pretty closely right now and am as well very interested into your Opinions on the whole situation. So please leave a comment and let me know what you think about all this.
Upvote, Resteem & Follow me @Steembusiness
(A Proud German Ambassador from & for Teamaustralia!)