For the longest time the correlation between Steem and Bitcoin has been direct. If Bitcoin goes up Steem goes up and vice-versa. That changed on July 28, and since then their relationship has been inversely correlated. Bitcoin has hit a high of about $3490 recently and now looks to have formed a head-and-shoulders pattern. The reason why I am writing this is because I think that Steem could act as a safe haven if Bitcoin does take a dive, or just a temporary pull back, as Steem looks to have bottomed on the daily chart relative to Bitcoin. I have bought more Steem in preparation, but am providing this as only a source of information; not investment advice. I have been wrong multiple times in the past. No-one knows all the variables or the outcomes they may produce, though it is a near-certainty that digital-currencies are here to stay for the forseeable future.
Steemit is a solid platform and Steem is currently trading at a discount. Because of this it may be seen as a safe haven.
Below is a screen-shot of a chart from Trading View, and shows the inverse correlation.
