The Crypto Currency market took its biggest correction of the past 6 months, and the only people that have benefited from the wave are the ones that have purchased the coins at a fraction of the price.
In order to stimulate the market, Whales remove their money from the market forcing panic and FOD, which creates fire sales, then the Whales return to purchase the coins at a fraction of the prize when the dust settles. Which in-turn causes the market to spike back up, then the minnows will follow and start to buy more coins.
Now if you are one of these people that gave into the panic and sold off your coins, you just lost half of your money however if you held on to your coins and weather the storm rest assured that the market will return back. The crypto market has always been volatile and knowing when to buy and sell is key.
So remember the cardinal rule of the investing in the market buy coins that have a realistic purpose and invest what you are willing to loose. As for me i invested in XRP, TRX, ADA, XLM, ETN, SBD, Steem, KCS BNB, Dragon Chain and IOTA.
Ask me at the end of the year if i am still holding on to them...
Please Re-Steem and upvote if you can relate to this.
#XRP #TRX #ADA #XLM #ETN #SBD #Steem #KCS #BNB #DragonChain #IOTA.
Wow, if this is truly how the system works, that's kind of messed up. Basically the 'whales' control the entire thing: selling to make the market go back down, causing more people to buy in at cheap prices, which cause the market to go back up, and then this repeats over and over again through time. Think about that...
They do that in the stock market all the time, the rich get richer while the poor sell
Thats pretty crazy unfortunately for me I decided to buy shit the day before everything went down so I did not get the benefit of the sales but I have faith that I will still make some money for the future!
yes buy and hold on to coins for the long haul..all these coins was once pennies as long as you invest in a coin with trues purpose then you will be fine.
Hold on or run for the hills? I gave this crypo thing a try but after bitconnect I am done. Its not for me. Good luck to everyone who has and is still investing in crypo.
it's true unless we have companies legitimizing their existence like Ripple once the bank uses XRP or Stella then it's value will go up and would be pinged to the currency.
You got a 33.33% upvote from @bid4joy courtesy of @finaltouch25!
hold on guys btc will rise again...
I got scared but held for dear life. Thank God they are rebounding.
You got a 6.08% upvote from @mercurybot courtesy of @finaltouch25!
Here's $20 for supporting Steemit.
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Release the Kraken! You got a 75.00% upvote from @seakraken courtesy of @finaltouch25!