Crazy market today // Lets not get ahead of ourselves.

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(Edited)

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So the market went crazy today. Bitcoin went up 20% in a couple hours and a number of altcoins as well.
Steem performed pretty poorly and is around 80th place out of top 100 by MC in performance.

Not great. Steem has a problem and that problem is that its lost many of its speculators. The ones we still have, have a decent grip on the price and their trading bots arent favoring steem.
The biggest problem i see is that those that believe in STEEM, those that have deep pockets and are long on Steem, potentially dont trade steem on exchanges in high percentage of their portfolio. Instead they power up.
Supporters of other tokens just send their tokens to the exchange, trade and move them back. They dont have the restriction of the power up.

This is one of the reasons why im proposing lowering the power down times.

So basically, today Bitcoin blew up and everyones super happy. Im a bit cautious.
What ive noticed for a long time is that these trading bots are being extremely bearish on STEEM when Bitcoin goes down in price and slightly bullish on STEEM when Bitcoin goes up in price.

42% is one of the biggest daily gains Bitcoin has had in a long time. (4th biggest in Bitcoin history) My fear is that a pull back will happen and when it does STEEM will be hit hard. Were around +7% atm and are down 13% vs BTC.
If BTC pulls back a bit STEEM might get hit pretty hard, even test the 0.10$.

Or... maybe this is the start of a November bull market and the sky is the limit. Its hard to guess these things but from the performance ive seen STEEM have in the past vs BTC, i still think the "unfortunate result" for STEEM is possible.

I just dont trust the speculators, they havent been kind to STEEM ever since the ATH.

Not financial advice, just saying:

Always be cautious.

Ill see you around.

steemleo steem bitcoin coingecko altcoins bullrun palnet caution
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while i was thrilled to see the massive change that made me rub my eyes to double check the app for the price of crypto this morning, i share your sentiment in not getting arrogant about any of it, because yeah, BTC went down $500 in 2 minutes 2 days ago and drug the rest of the market with it. It can happen again.

I hope for wonders just like the rest of us, but honestly, based on what I have seen in the past year or so. I don't expect much in the way of good stuff.

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Im really curious to see what happens in the next few days. I think we will know more then.
I always say that its way too early for a bull market like the one in 2017 to happen again.
People need to start forgetting about how the bubble burst and i think those memories are still too fresh for many.

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Hi @lordbutterfly!

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Hi, sorry for the downvote but you have a little troll buying votes for you. Pay no attention, this is just a small downvote.

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