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RE: 300 BTC open market purchase of STEEM, spikes price to .00324

in #steemit8 years ago

I think some people are getting impatient with Bitcoin and have decided that they have a greater chance of making money if they put their holdings elsewhere. There has has also been a large exit from both versions of ether. I see this partly as a knock-on effect from the ETH/ETC crisis.

Not only did it shake confidence in cryptos generally due to the DAO hack but the ether wars have highlighted worries over a BTC blocksize change even more than before.

If the ether situation is hotly contested then the BTC blocksize debate could result in an even more difficult situation.

I think this making people feel very uneasy about holding Bitcoin and the potential for a full blown civil war over it's future.

People are looking for other cryptos that will give them some semblance of stability if not outright price rises. Steem is one of the first utility cryptos and is likely to get more investment as a result. People probably see it as a better bet due to that.

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