Wow, watching this sell-off reminds me of watching the US stock markets back in September 2008!
Back then, I was able to pick up GE at $10, Ford at $1.50 and Pfizer at $18.50. So is it time to capitulate or time to buy?
Since this is not investment advice, my opinion is to keep on the sidelines until we see some sort of bottom in the top 5 coins based on market cap.
I'm not a professional trader, but do have a degree in finance, and it's been refreshing to look at the technical analysis of these coins since there is basically very little derivative manipulation of the cryptos compared to the precious metals and many stocks.
There seems to be some heightened concerns of the upcoming Bitcoin changes, but its spilled over into just about every coin out there.
A quick review of coinmarketcap.com shows only 3 coins in the green at the time of writing this - everything else is down with some by over 30%.
There is a lot of young money (people new to investing or people new to cryptos) in these markets who have only bought into the ever upwards draft, and now it's turned down they are running scared.
So which side of the fence are you? Are you buying the dip or panic selling?
Would love to hear your stories and idea for how to play this market right now!
I'm currently holding mine with a finger on the buy button...
Write On!
Sell
BUY! BUY! BUY! I always vote buy when its down if you have reason to think its going to go back up. Investing is a long term game, not a quick buck.
Good post QP - waiting with you but don't know how long I can hold out for - only want STEEM though and it's long term social media potential. Didn't think I would see these sorts of opportunities again. SK.
well im a newb to the cryptos myself so fascinating to watch it all play out...meanwhile my mining accounts keep humming along..;)
Hello, i think it's time to buy too
I buy some yesterday, i will buy some today and maybe tomorrow if it keep falling.
I don't know if it's a good strategy but i think only hard decision can change your life, so sometimes, you have to try.
(To everyone, invest what you can afford to lose, don't forget)
@cheapes luv your advice! only buy what you can afford to lose...keep us posted on how you go!
OK, I just bought some litecoin...keep me posted on your activity!
I am selling and buying the same right away... JUST KIDDING!