Well that has to be the biggest crash in cryptocurrencies ever. Looks like over $20 billion was wiped off values overnight with every coin in the top 20 well down. I know people had been getting excited about the Steem price, but it was being carried along with a wave that was lifting many coins up. Now the tide has gone out.
I really don't know what has driven this, but it seemed inevitable that at least some coins would fall as they just didn't justify the rise. As it is it looks like the market just collapsed. Someone had been pumping in billions for a while and has decided to take it elsewhere. It's kind of strange to see the value of my account plummet, but I'll still have made good money at the current price. Let's see if Steem can now thrive on its own merits.
Even winning the BTCC poll has not saved Ethereum Classic for now. I know people were really pushing for Steem to win, but it looks like it was a battle of Twitter bots really. I still think the publicity could help Steem and Steemit. More people will be paying attention to them now.
The stats for Steemit are good, but I still see reports that people are having to wait a few days for their account to be validated. Is there any update from the team on this? Is it just a massive backlog?
I'm not getting upset over money I never had. In any case I'm suffering from man flu, so that it occupying my mind at the moment.
Steemit will prevail. Keep the faith and Steem on!
Mine cryptocurrency in the cloud at Eobot, including Steem. You can earn as you chat using WowApp. If you use these links I get a small reward. You can recruit others to do the same.