Slaughter On The Markets
Crypto Prices Drop Amid Regulatory Fears
Goodmorning world of STEEM! If you haven't noticed, the crypto-market looks like an absolute blood bath today. Most of the top 20 coins listed on coinmarketcap.com are seeing a decrease of between 15-20% of their value in the last 24 hours.
Top 20 Coins on https://coinmarketcap.com/
Bitcoin is sitting around $12,000 at the time of writing and could continue dropping further. Ethereum is still above $1,100 which is rather impressive in my opinion. The price of our beloved STEEM token took roughly a 25% hit and sits at $4.40 (still pretty awesome considering we came from $1 not too long ago!).
The apparent cause for the sea of red is a recent string of regulatory announcements coming from Asia. Today we are waking up to many mainstream news articles claiming the People's Bank of China (PBoC) is calling for a wider ban on Chinese crypto-trading. Recently we have been getting news that South Korean officials are looking to tighten their grasp on the crypto-industry.
One thing is for certain, this is not the first time we are seeing a major degression following Asian FUD news. Keep your hands strong during these times and consider adding to your positions. Throughout history we have seen regulatory news drop the price many times, but with time it always seems to find it's way to a higher point. Stay patient my friends.
Only 2 Things You Can Do....
HODL & ACCUMULATE!
Thanks For Reading!
)
I do love a good sale! Though it is pretty intense right now, better to stay a little offline and occupy the mind with something else 😅
good advice Jeff, hodl and accumulate!
Asian news does have a strong impact on the market. As you said we always see it rebound. I imagine many will add to their portfolio at these discounted rates. HODL on!
AN EXCLUSIVE GOODNIGHT WISH - #01
I've elected to deliver a special goodnight wish to everyone that I am following (and your followers)! May you have peaceful rest. I hope to to see you all bright-eyed and bushy-tailed in the morning! Good Night dear friend!
Gif by Tenor
Goodnight @rlt47! It’s only noon here so I have a while to go before I can find my bed
mmmm...so you still having the day I had! (sounds funny when one actually says it)
HODL THEM CRYPTOS
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I am hodling my nerve!
Just.
xox
informative
I think bitcoin could end up at 0.
I don't.
Why?
I just don't think 0 is possible. As long as people continue to use it and run the software, it's going to have a value.
Servers aren't free.
The crypto Apocalypse is happening. :)