Last time this happened, a lot of investors joined in and we had about a 20% overall correction. It is important to remember that this sort of volatility needs to be expected in an emerging market.
Our entire crypto-economy does not even come close to the value of the largest companies in the world - let alone the largest economies in the world. Markets are relatively easy to manipulate for the big players in this space.
I am convinced that a devaluation of the overall market cap is a sign of profit taking. If your coin is at lows, it may be a good time to plan your buy orders. We could see another 5-10% retracement sending the overall market cap back to approximately $100b. So it may pay to hold some of your capital in case that happens.
It took about 48 hours for market confidence to be restored last time we had a correction. And always remember to do at least a quick scan for any new news before deciding to re-invest based on old research.
Stay stoked frothers,
I'm off for a surf now. Will check in later. Yewww!
I think there is a lot of panic between now and August 1st. At the beginning of the day I thought this was just the standard weekend correction...but it's starting to get a bit whacky. We are definitely going to be seeing more profit taking before August 1st.
You're referencing BTC WitSec?
Are you referencing BTC Segwit?
Sorry people, I'm fairly new to social media. Is this question for me? If so, no I'm not quoting. I may be paraphrasing some information I have read. This is always possible, but I have not intentionally used someone else's thoughts in an attempt to pass them off as my own.
If you are asking each other, I'll leave you two discuss. To be honest I am happy for anyone to bring in any relevant material to the article. I don't care where it has been obtained from so long as the information is attempting to be accurate so we can all learn and benefit together.
A healthy debate is a good thing.
Thank you for your insight and adding to the conversation.