It’s One of Those Crypto Red Days, What’s Going On?

[g-dubs]

This seems to be a theme for 2018.

You check CMC, and all of a sudden the whole market is down over 10%. It’s happened a few times already this year.

And as you can see from the chart below, today is one of those days. Every coin in the top 50 is down.

Let’s see what’s going on.

I’m seeing lots of articles with the words plunge, plummet, carnage and crash in their titles.

And in fact we may be in one of those as bitcoin (BTC) has broken the significant $5,800 level.

Coindesk wrote about it, but offered no reasons why.

Some theories…

This article say its from tax selling.

Another article blames the combination of bad press, inadequate security, and more stringent government regulations.

Others speculate it’s from the upcoming BCH hard fork, which if you’ve been keeping up, is a shit show.

The other rumor is that this was somehow caused by Binance doing server maintenance.

Only time will tell.

Get your bids ready.

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Comments

[offgridlife]

Yeah it’s terrible. I’m losing billions

Posted using Partiko iOS

[g-dubs]

Lol... having billions to lose is a good problem ;-p

[offgridlife]

Ha ha... Billions of Cryptos at .0000001 is not much though

Posted using Partiko iOS

[melpost]

I see this as a buying opportunity. BTC will bounce back to $6300 - $6400 before you know it.

[g-dubs]

Same here. Perhaps this is the final flush out.

[nrad]

I just bought days ago at 6500, now it's at 5500....every single time I buy crypto I get screwed because the bottom keeps going down

[patchnotes]

How low will steem/usd hit?

[offgridlife]

7 cents

Posted using Partiko iOS

[upmewhale]

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[btctherapy]

I'm heading to the bootleshop
I'M NOT GONNA SLEEP TONIGHTI'M NOT GONNA SLEEP TONIGHT

[vieira]

The reality is that we still don't know to what extent the current prices are speculative, therefore, tomorrow could go down 10 points more, or perhaps raise 20, because for more than a year, prices are detached from the reality of cryptocurrencies.

Precisely for this kind of moments is that initially people are advised not to invest their necessary money, and that much less borrow to invest. Now it's just about resistance.

[andrewramdas]

Thanks for sharing @g-dubs .... We have to just watch and pray for the best 🙏