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RE: DAILY STEEM REPORT JULY, 11TH ★ STEEM 1.18$ + 849 New Accounts
Guess a lot have to do with the BTC Hard Fork, people are scared that the same happen to BTC as it did to ETH last year ( ETH/ETC) so if a lot of them go back to FIAT and wait until the Hardfork is done, markets go down....
except that BTC has dropped a lot less than many alts. I'm sure there is some fear here but it doesn't explain the larger overall drops.
I think that's probably because BTC is considered to be the closest thing to a gold standard or blue chip company for crypto. There are probably more people willing to hold that compared to the alts.
That is a valid fear about BTC fork - I suspect the recent downward movement is a clear reflection of this