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RE: Meanwhile, Bitcoin Touches on the $4000 Level, And Gently Moves Forward
Does this BTC price, when combined with Steem's generally lower price, suggest that Steem and other alts could "re-absorb" some of these gains? BTC goes down towards 3k, we move up back towards $2?
The way it unfolds is: BTC goes up, all altcoins go down. BTC corrects, altcoins recover, get to the previous value (in BTC) before the surge. Rinse and repeat. But it doesn't always go like this. There are internal factors for each altcoin which may impact this workflow.