You are viewing a single comment's thread from:RE: Bitcoin Crosses 9000 USD!View the full contextyourboynextdoor (40)in #cryptocurrency • 7 years ago Ok. Just a quick question, does the incessant rise and fall of Bitcoin affect steem too?
That is an awesome Question. I love it when I get such questions.
The answer is Yes.
As STEEM price is measured in BTC too. For example STEEM is at 2 USD now and it costs around 20000 sats to buy 1 STEEM.
If for some reason price of BTC doubles than what would happen.
The price of STEEM will be 20000 sats approx but the USD price would be around 4 USD.
Although it would correct itself to around 3 USD but the fact remains that BTC and STEEM or any Altcoins are related.
Thanks so much for the reply. I appreciate
No worries buddy I am here to help out anyway I can.