Today bitcoin price went down 2000$ in just few hours due to the possible South Korea cryptocurrency ban. It was very fast declined by Korea Goverment and there won't be any ban now, nothing has been finalized.
Anyway such events always give us a lot of experience, first of wall DO NOT PANIC SELL, never! and that what everyone should know long time ago, but it is always good to remind such things. Also keep in the funds some BTC or USDT to buy in the dips.
Second important thing - ripple is a scam, lol really. Almost 50% down from its all time high. Did you know that ripple was 100% premined?
Cryptocurrency prices are just a measure of the wealth of the exchanges worldwide. When one of them sneeze, the prices fall everywhere.
This post has received a 1.54 % upvote from @boomerang thanks to: @discernente
Ripple is a contradiction of cryptocurrencies idea. What is more XRP is a token, that does not give guarantee that it will be utilized because Ripple as a company probably works on separate solutions for big players while people buying XRP are effectively paying for developement of this alternative solutions. People are blinded by the profit and tend to forget that crypto was not invented for this puprpose.
You are right, do not panic sell over 1 piece of news. No top 10 cryptocurrency will crash and die over night that is for sure. It will take a lot of time if any of the top 10 do die eventually.
that is 100% true
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I've had success holding through short crashes and then setting a sale for the temporary rebound that seems to routinely happen a day or two after large downward moves. Panic is not good to act on with money!
Ripple is a known scam for some years already, it's wierd people still play with it...
That's why I've always avoided ripple. Upvoted.