Hello Steemit community!
This last days were a bit crazy in the cryptocurrency markets, we saw some coins losing 50% of his value.
What happened?
China ban ICO's* causing the market dropping because of FUD* curiously after Bitcoin got a new ATH* at 5000$. So almost every coin dropped his value and we saw Ethereum dropping from his uptrend and steady grow to crash and leave behind all the grow and we see NEO crashed almost 50% in a few hours.
For the average emotional investor when they hear about this they began to panic sell everything and that helps the market crash but for the good investor/trader this is a good opportunity to buy cheap coins.
This is a good thing, is like black friday
You have to see this event as a black friday in crypto, every coin is with crazy discount so dont panic and see this like a good opportunity to get more coins for a short/medium/long profit because the market is recovering and there is some coins didnt full recover, that is like 99% guaranted profit.
China is banning ICO's* not cryptocurrency
China is just regulate and banning ICO's* because of potential scams is this kind of fundraiser, this is actually a good thing because it helps the people confidence in the cryptocurrency market. China doesn't want to ban cryptocurrency, they are just creating a good and safe environment so every person can join and help, so don't panic and let China do his own thing.
Coins are recovering but not all
Alot of coins are recovering today and we may see the regular price before the event and some will moon even more.
There is some coins still didnt recover from the event, like NEO, BNB, ETH, QTUM, HSR, EOS, etc... you may be picking up some of your favourite coins or the ones that got dumped hard like NEO, BNB and ETH. I personally bought some BNB and ETH.
*check this if you don't know what it means
Good articles about this
Bitcoin Price Falls Below $4,500 as Crypto Markets Lose Billions
China's ICO ban - a full translation of regulator remarks
What Caused NEO's Temporary Price Slump and What to Expect
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This post received a 3% upvote from @randowhale thanks to @johnycrypto! For more information, click here!
Nice review of the latest days on the stock exchange. TY!
I expect it to be a little rough the next couple of days.
The worst allready passed i believe.
Thanks for the comment
Thanks for sharing...
Thanks for the comment :D
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«what does the BNB do
BNB is a token used in the exchange Binance, you can use BNB to get a big fee discount for each transaction
I want to get more EOS at this super low price...! But I'm out of fiat and don't want to sell my other holdings when they're low!
You have alot of time to buy EOS, the better option is to buy in ICO in their page not in exchanges and in my opinion price will decrease as they release more tokens each day
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This post has received a 0.78 % upvote from @drotto thanks to: @banjo.
LOL It wasn't a crash it was a correction and is part of the normal cycle that crypto goes through every year. To see it you have to do one day candles and look from June to June of each and every year. Back off your charts and stop looking at everything at 1/3/5/15 minutes.
This is not a correction, is a day crash, if its a correction why they all recovering?
This post has received a 2.29 % upvote from @booster thanks to: @johnycrypto.
Thanks for the insight, I will be looking for another Black Friday sale with enthusiasm.
Thanks
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