Im going to put my two cents in although I don't know much about the coins and I learn a lot of it from my boyfriend. We talk daily about the coins . He tells me about China and markets and how peepole (I spelled it like this on purpose to be funny) freak out and pull their money out, plus the coin being banned in China. When I see the plunge, I tend to get scared but on the other hand I am glad because I will be able to buy some coins while the prices are down.
The joke between me and my boyfriend is that we won't touch the coins until 2020. Ha ha
So I agree with @bobreedo and I will stick to what I have. I quadrupled my money on LTC but I still didn't sell it because I am in this for the long term and I want to build it up. So , I think we should hold on tight.
It does piss me off that Chinese government is getting involved in this.
I thought it was supposed to be decentralized no?
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I'm wishing I would have sold LTC at the peak. I had this idea I wanted to own a millionth ie 84 coins so got there and continued buying. I should have sold my excess in the 90's, you live and you learn I guess.
I think its going to be rocky until china makes some concrete announcement at this point its still really speculation and rumors although we do have BTCChina comming out saying they are stopping accepting new customers no w and stopping operatinons sept 30.
Even if there was bad news about China I think it would be better to just get it out there than have uncertainty.
I am only slightly sorry I didn't sell at peak at $97 . It will come back up. What goes up, must come down and vice versa. I am in this for the long run and China needs to take their "toys" and go home and leave "us" alone. If it goes really down, I will buy even more than I initially set as a standard for my buying, but I will also tell you that yes- my heart is sinking a little when I see LTC down to $51. OUCH.
One thing tho- I really think it will be ok. Just do this for the long haul. Day trading is pretty bad right now right? Breathe ,breathe , breathe... it will be fine.