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RE: STEEM Dollar has collapsed under USD 1$ 📉 📉 📉
Crypto's have always been very volatile and this isn't going to change anytime soon. As the vast majority of coins are not bought for dollars but for bitcoin, they are linked and when bitcoin takes a dive, they all tend to do so. Expect more volatility in bitcoin as we approach the end of the month! If we get through that OK, hopefully we will recover for the second half of the year!
Yes, the cryptos are highly dependent on Bitcoin currently as that is the main currency which is being used for conversion. So fluctuations in BTC is affecting other coins greatly. What is the reason to expect more volatility in Bitcoin as we approach end of the month?
Various scaling issues with bitcoin. If there are any issues then this could well affect the price of bitcoin:
http://www.coindesk.com/bitcoin-scaling-project-segwit2x-release-new-code-tomorrow/
Yeah, we have to see how segwit2x unfolds and what improvement it brings for Bitcoin. I am sure the stability and credibility of BTC will increase in the coming months making it more trustworthy for the investors. Then we'll see new price heights of Bitcoin.