Hey steemers. Today i wanna apprise ya'll on what the heck is going on to alt coin and bitcoin prices since i have been into cryptos for a long time now.
Bitcoin Vs. Bitcoin Cash : an ugly feud
Bitcoin cash recently rocketed up and had knocked out ethereum's 2nd position in cryptocurrencies market Capitalization for a short time. Though ethereum has recaptured the 2nd spot but still, BCH is now ranked third in crypto world.
The real question is why the heck did that happen and what are the consequences of this sudden boost of bitcoin cash.
Well.. to put long into short, this is happening because many investors were hoping to increase the bitcoin blocksize from 1MB to 2MB and Segwit2x hardfork was the way to do that. Segwit2x was all set for launch until it was cancelled by devs (i think on 9th november). Hence these people are pissed and have started to put their money in bitcoin cash.
I was personally furious over this decision of cancelling segwit2x cause i was supposed to get 1.31 segwit2x against the same amount of my bitcoin holdings. However, other investors have started putting their money in bitcoin cash. Due to this, bitcoin cash is now at 1450$ while bitcoin has came down to 6000$.
What is happening to steem
Steem, well.. suffice to say that steem is not doing very well amidst all that crap.. i personally love steemit because it is more than a cryptocurrency to me. Its my blog. Its my life.. i love the environment here.. but i wouldn't be lying if i say that steem has kind of reached to the point of disparity. This coin does not deserve to be trading below 2$ at all.. and currently it is at 0.87$. It is such a shame. But i am hoping that it will rise up again
Hoping best for steem
Lets all pray together that this bad rub for steem finishes quickly..
Best Regards
Talia
P.S i just realized that this is my first post which is not about me. How the hell did i keep posting just about myself all that time before?? I am gonna start posting about other stuff too.. don't worry, i will still make pics posts too 😛😋