Although I am a crypto investor, I must disagree with some points highlighted in the beginning.
First of all, you cannot call bloodbath what has happened today. An overall 18% drop is perfectly in line with the historical volatility of cryptocurrencies. It is easy to become a lover of the crypto world just because they have been surging a lot, but, trust me, if a mere 18% drop scares you, then I suggest you change asset class (maybe German bund might be a good pick).
China way far from being the most transparent country in the world and the way in which it banned ICOs was not the best one. However, the goal of an honest a trustworthy regulator is to protect the weak investor who has not any clue about investing in crypto and can easily ruin his life through taking part to a scam ICO.
As an important guy once said, until the musing is playing, you’ve got to dance. Indeed, we are all dancing. I fear that without any regulation on ICOs or barrier in terms of knowledge required to access them, we will shortly stop dancing and begin crying – as many did in 2007-2008.
