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RE: Steem - On days like today, go for a walk
In any normal financial market, investors would commit suicide en masse right now. But hey, it's crypto land. It's a rollercoaster. Yes, losses are huge, but for all we know, BTC rises to unknowable heights in just 90 days.
The thing that frustrates me most is that everything is still tied to Bitcoin. Good projects, bad projects, it doesn't matter. When Bitcoin goes down, everything goes down. Everything will change if this is no longer the case. I really wonder when that will happen?
Very good points. I too thought that correlation would break long ago. The fact that it still hasn't yet kinda makes me think it may last for a long time. I think as long as the majority of exchanges prices coins in terms of BTC, this correlation will exist.
That's indeed a key factor.