Did coin market cap just crash the crypto markets? Did we lose 100 Billion dollars worth of market cap or is it just a change in the formula.
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That’s part of what makes it exciting wait for a dip to buy and wait for the peak to sell there is always another one around the corner
exactly, when a crazy, emotional event is happening it is usually best to do the opposite of the crowd, in this case it was best to buy when people were panicking.
Cryptomarket is insane. I like it:)
I attribute this to market health
I remember Dogecoin was like falling,,, falling.... falling
Then it surprised everyone. The big thing we need for investment is the ability for holding anything despite loss. and its the same thing we need to focus us. Choose a cryptocurrency wisely and stick with it despite falling price :)
If that's the case, it only means there are a lot of people who have no idea what they are doing (especially wannabe traders). We can't held a market cap website accountable for the voluntary actions of millions. Nonetheless, it would't hurt for coinmarketcap to give a homepage notice on the calculation change.
@fmalafaya You are right, coinmarketcap should've given some kind of notice may be even before implementing the change to give people some time to understand what it means. As the price plummeted so fast I think panic was sort of natural. I even questioned my own judgement (which I hold pretty highly :D just kidding).
Ah well may be we will all be more aware of this in future :)
Most of people were caught off guard, but most people are not full-time on this, thus not having the time to collect market info. Full-time traders have this capability. If you are a long-term holder this is just another day. If you are a wannabe trader you'll get burned!
dunno but 700 Billion market cap sounds pretty ok to me :)
Hi Michael,
I think coinmarketcap should not exclude Korean exchanges but it's their choice and people shouldn't be trading on the info this useful yet inaccurate tool provides anyway.
This was an unnecessary panic caused by weak hands and is actaully good for people who are patient and believe in crypto because it allowed them to get more with a nice discount. :)
Thank you for your videos,
Cheers.
It was a sharp correction that's long overdue. Especially for the altcoins which had gone up so much, so high. It's a shakeout of jittery holders. Especially those who had come in rather late to the party.
But those who had come in earlier are still way ahead and sitting pretty. With many alts, one should have gotten at least 200 % over the past 3-5 weeks. That's a nice cushion to sit out this kind of price correction.
This is what you need when you are in the cryptoworld.
Can't really get angry at coinmarketcap for doing this right? It's just an indicator. I'm actually happy with the adjustment as prices on their site are now closer to the prices of the exchanges that I use.
Well, if you are a hodl, you shouldn't be afraid of what's happening in the crypto markets. This is just one of the many days where we see double digits drop.
It's totally normal. The crypto market loves to "Bubble" it will pop and bubble up again. Use it to your advantage.
Not a crash just coinmarketcap showing more accurate prices!
Thanks for that information i didn´t now that. You are doing a really good job in updateing me about the crypto market.
Bitcoin has been crashing and increasing we cannot say the reason properly!! Its great post which is very knowledgeable! !!
i heard something about asian exchanges and huge arbitrage opportunities, its mainly crashed on CMC and not individual exchanges, Hope that helps :D
Thanks for update sharing Dear @boxmining
Thank you for those tons of valuable information.
I think everything will be back to normal in some minutes..
Hi @boxmining, thanks for the information! I think this is quite irresponsible for coinmarketcap. I think they should have made some announcements before implementing this change. It has caused a lot of unnecessary sell-offs. That being said, it has also present opportunities to buy in.... hmm....
Michael, thanks again sir, I can count on you for up to date info.
And Coinmarketcap, thanks to you, too! Great timing to adjust your totals, alts have been so high for a few weeks, my bids finally have a chance.
Another event to separate the amateurs from the seasoned veterans. Hold dear and keep buying the dip.
@boxmining I still do not understand very well how to win the bonus of 20% of the SPECTIVE ICO ..... it is what I still have in doubt that I do not understand very well ...
Do you guys think we are in a bubble?
https://steemit.com/cryptocurrency/@chkoenig/are-we-in-a-bubble-sind-wir-in-einer-blase
Great information. $100b in market cap can easily be lost just as it can be gained overnight. High volatility is the hallmark of crypto market.
The crypto market is and will be volatile for some time. Have faith because it is the future 🤗
Ups and downs are everywhere. I dont think so that cryptocurrency is going to down now. 2018 will be amazing for that. I guess so
jesus thank god for this video lol, been trying to figure out what the hells been going on all day ^_^.. not feeling so crazy for buying more Zclassic on the dip
Awesome!
The change in calculating avg happened several hours ago, before market started behaving like a huge crash. It all started with bitcoin dropping down.
And all of a sudden my internet was down. That was scary.
If binance and bittrex resume opening new accounts, then marketcap should grow again. I'm not sure if we will see similar results as in 2017, but who knows ...
https://steemit.com/cryptocurrency/@cryptorep/which-cryptocurrency-has-the-largest-increase-in-value-in-2017
I agree with what coinmarketcap did. This adjustment in the average price calculation is needed to reflect the real size of trade on cryptocurrencies, since the Korean traders/holders are in a hold of doing activities. The korean exchanges might have higher prices of cryptos but that's only preceived highs since there's no real activity there at the moment.
Thanks for share with us this important information