A little headfake and people go into panic mode. I think the only explanation here is a very immature crypto currency crowd. Lots of young and inexperienced investors and non-hodlers who sell in panic on basically any news.
The whole thing today started with some people claiming Ripple was being bashed by Coinmarketcap. Which of course was utter bullshit. ALL cryptos had their Bithumb exchange trading halted on coinmarketcap. Or, rather Coinmarketcap excluded ALL three Korean exchanges from their averages.. "due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity"
This morning we excluded some Korean exchanges in price caluclations due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity. We are working on better tools to provide users with the averages that are most relevant to them.
That unannounced move sparked confusion since prices seemed to be down..and people who did not do their research sold into what they believed was a correction.
As you can see with for instance Bitcoin cash. A part of its price was removed, the price dropped sharply as it seems, and as you can see people sold later on due to fear.
This is in other words just a correction in faulty data. Nothing has changed. Please get back into your seats and put your seatbelts on. Jupiter, here we cuuuum!
Resteem & upvote done! Cheers!
It is time to buy as they are down. Love that muppet.
Crazy action today. though it just shows trade volume is still quite low and should stabilize as more people enter the crypto space.
who said panic? whats with all this panic?
Look at me do i look like a guy who panics...
All sorts happening today - Chinese power prices, Korean exchanges, Jeff Berwick practically saying Bitcoin might be all over.
Today for the first time in crypto history Bitcoin is not number one by volume -Etherium is -I'm having a Bitcoin is going down party!
Bitcoin 18 billion, eth 8 billion?
Bitcoin 5.33 billion vs Etherium 5.37 billion - close but I think old dog Bitcoin is about to get spanked!
https://www.worldcoinindex.com
not according to coinmarketcap or livecoinwatch
My figures still check on Crypto Compare and World Coin Index which are the sites I watch - and I've never seen it in number two spot before
To be honest I think the end of Chinese cheap power is going to finish it off soon anyway - newer cryptos won't need all that power
PS- It's strange how each site has different figures - any ideas why?
yes.. those who have dry powder will be buying.
I was wondering why every crypto was dropping like a rock til I read that about the korean exchanges, at first I thought shenanigans, how could all of these different coins sell off so fast and not go into bitcoin. Here it is, they didn't, a simple recalculation on CMC's part. Wish I had more fiat during times like these, market is already rebounding.
Yup!
This post can help trading:
https://steemit.com/cryptocurrency/@jjrt3345gr/how-to-predict-cryptocurrencies-with-big-data-vol-4
Crazy action today. though it just shows trade volume is still quite low and should stabilize as more people enter the crypto space.
I totally agree, decide on a project or platform or two and keep investing for the long term. No panic selling. Maybe do some panic buying though at these dips. ;)
I've decided on about 60 different cryptos/projects :) Hodling!
More power to you! I have a hard time keeping track of more than a couple. I think in the long tem you will probably make a killing!
Hay que ser paciente, y esperar el mejor momento para vender, en este momento pienso que es un buen momento para vender.
Look the muppets running - perfect illustration to make your point. And yes, your point is valid.
haha. Love your optimism. Yup, non-hodlers were easily scared by the news. The crypto space is still very much in its infant stages. We have yet to see major corrections and people are just beginning to warm up to cryptos. I see it as an opportunity to build some position. ETH can be used as an ERC20 indicator to gauge the general market sentiment. Like the Nike's slogan, "Just hodl on!"
haha hell yeah this was funny today watching all of this. I also did an analysis of what the first set of futures ending might entail. Check it out if you wanna ! :) cheers!!
https://steemit.com/bitcoin/@srankoin/dont-touch-my-bitcoin-wall-street-a-bitcoin-futures-price-analysis-and-prediction
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