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RE: Why Does Steem Lag in a Bull Market for Cryptocurrencies?

in #steem7 years ago

You slightly miss the point that the recent rally is not driven by people understanding the benefits of crypto. It is driven by speculation. The vast majority of new accounts in the last 6 months were created because people expect to sell at a higher price than they bought at (greater fool theory). Iam a big believer in crypto and have been since 2011 but nothing has fundamentally changed this year, certainly nothing to justify the 1000%+ gains bitcoin and many others have experienced.
It’s a catch 22. Steem is not going up because it’s not going up!