Hello!
To everyone that has wondered what happened today on the market in relation to Bitcoin, Ethereum and Litecoin.
The prices has fallen quite a bit today. Is this the real value of the coins falling or is it investors losing interest or is it simply people taking safeguards against the possibility of a crash in August?
Nobody knows for sure.
My personal opinion on the matter is that this is just a reaction to the big news and anticipation on what is going to happen in August and people making their safeguards to not get caught with a red eye the day after.
This bill burns over at pixabay.com so do not blame me if it burns down even more!
What do you guys think? Is it a freefall from here, or should everything normalize itself soon?
I think it's just Bitcoin doing what it does, the charts took a turn, and they'll turn again. Just another day in crypto...
-20% one day, +20 the other day.
However I feel its good to inform the masses when the main ones get hit :)
In my option I believe the sell off will continue for a few more days and then it will level off. I think that the bitcoin problem is clearly effecting the rest of the crypto currencies and as soon as the hype/scare of this fades that the crypto's in general will bounce back and resume trading as normal. I say this because as an active crypto trader i have noticed the volume of crypto decline across the board for the majority of the tokens.
I have been trading equity options in the stock market for 10 years now and what i'm seeing with the crypto market is the same thing that happens in the regular stock market year after year. People loose confidence in the market for a given reason. The prices fall to a support level, confidence is restored for what ever reason and then the bears come back in and drive the price back up to the previous price if not higher. Im my opinion I would not look at this as a time to flee or get scared. I would look at this as a time to buy and average down your current investment entry price.. For example if you owned Ether @ 315 and now you buy it at 215 your current price of ownership averages @ 265 instead of 315.
Look at this dip in the market as an advantage not a hinderance and buy what you can while the price is right..
Im sure you have hear the saying in the regular stock market "BUY THE DIP" well people... this is it.. its all relative !! happy cryptoing
So you believe like me that Bitcoin just got a hangover from the last months uprise?
For the time being, it is a benign Bitcoin correction, although some altcoin markets have been going down brutally.
I see it this way as well
It's a normal pretty normal reaction from the market.
Right after this fork stuff we will see all coins start to launch to the moon! :)
They may.
That is still to be seen.
I sure hope steem will be one of the ones shooting to the moon :)