Good morning all,
I wanted to take today to talk about the recent downswing in the crypto currency market. Over the last two days, virtually all coins in the top 100 based on market cap have dropped a significant portion, with some dropping over 30% overnight.
The recent December addition of new investors led to an increase of over US$200 billion in the market.
Recent news accounts that China want to place more regulations on cryptocurrency, which sparked the initial fear which led to sellers panicking and selling. To top it off, The Ponzi scheme bit connect finally shut down it’s lending portion and this caused the Bitconnect coin drop from $300 to less than $20!
Others believe that lunar new year, which is coming soon, is the reason why so much money has been removed from the market. With holiday spending spree’s, most investors are looking to spend their hard earned money from their crypto currency gains.
In my opinion, all of the points addressed above collectively add up to the decline in the crypto space as we seen over the last two days. For those that are smart, this is the perfect time to invest in your favorite coins which have a working product, as it will maximize your profits when the markets regain exposure.
For those that are smart, this is the perfect time to invest in your favorite coins don’t have you working product, as it will maximize your profits when the markets regain exposure and form new all time highs.
We have been here before and its always the same story all the time, the markets decline, weak hands sell off at a loss, the intelligent investors buy in and then the market recovers and people who bought the dip are rewarded. Its even better with steem as there is an opportunity to just keep on accumulating steem without necessarily investing extra, that is a great deal!
The greatest part of the crypto is an opportunity to be VC investment firm!... Basically, we have an access to invest in the early stages of the next Googles, Amazons, Saleforces and so on. But pls, do some due diligence to identify your own gems in the stack of garbage projects. SteemIt might be one the unicorns to really change your life. No guarantees, but still a decent probability of success!
That’s what I love about Steemit! It gives those that are looking to invest but don’t necessarily have the capital a great chance to earn more by posting and commenting, which will greatly reward them in the future. It’s what makes Steemit such a revolutionary and exciting platform!
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In my opinion it's combination of all the things you mentioned and some whale market manipulation on top of it resulting into huge newbie panic selling. Also what are the current rumors of Wallstreet starting to get into BTC? This may be the best opportunity for all the big players to accumulate, really interesting to see which direction of the 10k $ BTC we'll be heading towards. The only thing I find a bit surprising on the timing of this correction is the fact all the major exchanges have been adding so many new users during the past weeks, but as I said the newbie panic selling is a big factor and majority of those new users are newbie "investors".
Solid post mate!
I read a very good post by @onceuponatime in which he gives one more factor that probably plays a huge role in the current crash: the fact that the first futures contracts are expiring today, and how the big players are manipulating the markets to maximize their profits.
It's an interesting read.
https://steemit.com/crypto/@onceuponatime/explaining-todays-chaos-in-crypto
Valid consideration you made but in my opinion the more panic selling is on the way, although more hammers will shine the golds as you suggest in last stanza that good coins will glitter more as soon as recovery begins.
Well said, those that have real merit will continue to grow!
I think this is a very drastic decline, maybe this price will continue to survive until 2 months ahead.
With the decline in price, it’s a perfect opportunity to buy in once the smoke has settled and make some profit!
I strongly agree with your opinion, this is the right time to plant seeds in the field
Just need to be patience for a while and then lets look for confirmation to buy more. Since the price are reasonable.
https://steemit.com/dtube/@zainu786/introduction-about-me
thanks for the information of my friend yes. and I'm glad to join you here my friend
Informative post👍 thank you
Very cool always you are the best
nicely written post, upvoted
can you please upvote my latest post
Cryptocurrency market going down day by day.. Thank God I didn't Invest Money in crypto... Investers are Really Disappointed with Cryptocurrency market now adays..
The sensible strategy is not "buy and hold", but "buy cheap and sell dear".
You need to take profits regularly or they will go to another account.