As a small, new market, it is very volatile and doesn't take much capital to move it one way or the other. A lot of people got into the market last fall as a get rich quick scheme, without taking into account the volatility, and have been panic selling...this is exacerbated by the stream of bad press. We are also still up hundreds of percent year over year. After such an incredible bull run as last year, some time is needed to cool off.
The value, in my mind, is greater than ever - Lightning Network is off to a promising start, SegWit adoption is rising fast, and ETFs appear closer than ever. As the price declines, I am continuing to accumulate.
I've been accumulating Steem Power... I've seen at least a 65% fall in its value since my Wallet hit a peek...
It definitely looks like a bargain - that will probably be my next acquisition. So far I am mostly in bitcoin, litecoin, monero, and decred.
I wouldn’t touch litecoIn. There’s no real market use. Bitcoin will have lightening and be king, steem has real use case and is real value but 99% Of cryptos are money grabs and won’t ever be used for anything real
Sorry but that’s a reason for daily sharp swings. The market is down 65% over all
That’s not it being low volume that’s a sign of major issues. I believe bitcoin will come out stronger but there are major issues in these markets. Dumping from $19,500 to $6500 in 3 months (likely soon under $5000) is not no big deal.....
The ETF set to get approved won’t hold actual bitcoin
They will be tied to the futures market only. That’s bad not good. Wall Street has hyjacked things. We all should of fought wall street futures instead many praised it. There is no bitcoin involved in these market it’s literally just a bet on price. It gives people with large means the reason to mess with real price now that they can play either side of price in markets. It was a huge mistake to go this route. Bitcoin snd especially other cryptos might be forever hurt!