What a start to enter into crypto world! Bought about 500€ worth of BTC and 500€ worth of STEEM. STEEM took even bigger hit (17%). I was trying to figure out why Bitcoin dropped so much and found some articles:
https://news.bitcoin.com/goldman-sachs-out-no-crypto-trading-desk-markets-fall/
Investment bank Goldman Sachs is ditching its plans to open a cryptocurrency trading desk, reports detailOne other theory was related to Mt. Gox case, where hackers were found guilty of stealing 850 000 bitcoins and court ruled that they have to pay it back in FIAT money. To achieve that and not to disrupt market too much, they are selling them in portions.
What is sure, is that some big whale wanted to get rid of his Bitcoins fast. If you want to read more, check out this article:
What do you guys think? What was the main reason and what was reactionary ? For better feeling, read it here: http://ungert.photos/yesterday-i-did-my-first-cryptocurrency-purchase-today-most-of-them-dropped-10-20-d/
Love the open-ended discussion theme of your post. Check out the latest articles on https://ethereumworldnews.com/ its a good peer-reviewed independent soured news outlet.
One article that catches my attention related to todays drop is: https://ethereumworldnews.com/vitalik-buterin-every-blockchain-sucks/
I've been in the game a long long time my friend. One of the things that you'll learn is that there is no real rhyme or reason to a quick jump or a quick drop.
The best strategy is to buy what you like, and then plan to hold long term.
When the crypto hits a price that you have predetermined, let's say Steem at $5, then sell and buy yourself something cool.
And the best advice I can give you- don't look at coinmarketcap everyday...and... don't throw in anything you couldn't just throw out the window.
Don't take it too seriously my friend, and enjoy the ride!
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