It had to happen, but I am surprised it took so long: The cryptos are "correcting" from the boost ~2 month ago, when the prices tripled for a lot of them.
Just look at those red stats!
Unfortunately Steem is in free fall, too.
I hope for you that you have either sold in time or are HODLing the devil out!
Hoping for me, you may well sell at the lowest point, driving it even more down before it goes up again, as all those suckers did who bought stocks in 2007 at the high and "lost everything in the 2008 crash" ;)
Seems like there might be a good opportunity to buy some more Steem while it's "on sale."
The problem with all that is that you never know when it is a real sale ;) It might drop more. We are still double the satoshi as 3 month back on average of the coins.
Hey @lennstar, I agree that it does seem like a correction from that exponential growth back in May, but I wouldn't expect the prices for the top ten currencies to go too far down.
You know, there is a big difference between the markets in the beginning of the year and now: cryptos get a lot more media coverage now and hence a lot more real people are participating in crypto's trading now. Some of them will indeed follow the psychology of the crowd, panic sell everything out and thus pull their money out of the market.
But a great share of them willl stay and keep their money invested. So the prices will fall, but I don't expect the fall to go on too long. Once unstable traders leave, more and more regular one's will pick up cryptos at bargain prices.
I wish more people would do more than participate in trading, its trading that gets the market all bent out of shape.
Haha, to quote a banker, talking about speculation on food (as in wheat, corn etc.):
Who does not get the joke: Increased volatility means the difference between highs and lows are bigger.
And since the talk was about a long high, what does that mean?
The food price was higher, food more expensive.
Oh @scalextrix, how come it's a bad thing? So they bend it a little, but you get to see the show.
And you get to make some money when they are exhausted after all that bending having brought the asset's price down. That's time for you to enter :)
I guess I'm boring, a slow predictable march to riches is my ideal ha ha
Its certainly a buyers market this morning :)
I already did buy, hope it was the right timing. Prices are going up since about 2 hours now.
Mm. Nice to hear someone else acknowledging it and providing an explanation.