Hey Steemians
You might have observed that since today morning the ETH price is falling. It was at 375$ untill yesterday however it has fallen to 340$ till this afternoon.
This are issues in Ethereum blockchain due to status ICO. This results in panic selling among the people.
This is the second panic selling i have seen this month. During the last fall the price dropped down to as low as 280 $. To check out reasons for that fall, click here
italicA word of advice for today
Keep calm and wait for the issue to be resolved. This is the second time it is happening and it had made a great comeback last time. Until then keep steeming !!
Panic sells are so fun. Haha, because you just have to wait untill everybody finished selling after the panic, and then you come and BUY more. Almost always the price just go up right after. It's quite obvious looking at the chart. I still don't understand why people panic sell, as if ethereum was going to go down to 1$ in 2 hours. But that's impossible, because not everybody is connected and ready to sell their ethereums. There is always a plateau. If the panic sells lasts for more than 2 days, that's another problem here. ;)
Feel free to check my last post, maybe you'll like it. <3
You are right, There are people who benefit when panic sells happen by buying at a lower price and there are people to panic sell and make loss. But expecting much of a logic as to why it happens leads you to one answer only and that is 'unknown'. That is the reason nobody gives you surety about the dynamics of the market. Markets and prices fluctuate due to N number of reasons. Long term players and analytical minds only survive.
Anyhow I will surely check your post and give my views. Good luck to you
Thank you for that post! I think most of us kind of got cold feet about our different coins, sell or keep sell or keep :D I had just invested in Siacoin that at the time was +17 i also invested in ethereum and BTS right before things went south.But my ide has been to keep it cool and not sell of any coins that i invested in for a long while. I invested in them beacuse i belived in them so i will trust my gut on this and focus on the future...a future where i will roll in cash :D Keep on investing brothers and sisters.// Calle from Sweden
It is good that you remain calm and dont panic during coin corrections and other unforeseen events that may happen, however it is good to always be on watch. Study the coin before you invest your money in it. This is what i have learned. For example there are cryptocurrencies that top the list with low price just because the quantity in the market is very high and the market capitalisation they hold is high. These may change slightly in value but the overall market cap varies a lot due to there large numbers. But they have a very strong hold in the market.
Best of luck to you for your investments
@tejbindersingh great post brother very informative thx for info
Thanks a lot!! I will keep posting more
Very good post. Same thoughts here. There's a lot of exchanges out there. I found that coinmarketcap.com gives quite a decent overview. I really advice people to take a look at: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis. For example: https://www.coincheckup.com/coins/Ethereum#analysis For a complete Ethereum Detailed report.