Bitcoin started to go up in expectation of a favorable decision from SEC on the approval of the latest request to constitute a Bitcoin ETF.
This is probably the pretext used for a mini-bull run, which can turn in the real thing if the decision is positive and all stars align. But the sentiment of the market has changed enough to allow the breakaway from the sideways trading, and now we'll see how long it will go.
Since the upwards breakaway, bitcoin has definitely been the king, and it increased its dominance over the other altcoins, which at first lost funds to it.
After a while, people started to remember the altcoins, and their price fluctuations started to re-sync with bitcoin's. Not the best situation, but better than bitcoin going up and everything else going down (I'm exaggerating, obviously).
But bitcoin is still the king and most eyeballs are tracking its every tick up or down. Will it continue to rise to 10k? Will it go down to the previous support?
While I enjoy when bitcoin goes up because my portfolio goes up with it, I'd rather focus on something else.
I see Steem has caught up a bit in the last 24 hours, but otherwise it was pretty much out of sight with everyone tracking bitcoin, and possibly selling other altcoins for it.
Personally, I did the opposite. I sold some bitcoin to get some discounted Steem.
On the short-term it seems I won a few Steem through the way STEEMBTC pair fluctuated until today, but that wasn't my main purpose. What I wanted was to buy Steem at a premium, while it lasted, and power it up for the long term.
These can be excellent opportunities to buy crypto for the projects you are interested in and which you think hold a future. When attention is drawn in a different direction and their price is low.
Let's not all of us go for the immediate potential profit! Long term offers great gains, if we are patient.