bitcoin and whole market down ? whats your take on it ?

Hi steemians,

It seems whole crypto market is down , almost all crypto currencies are loosing value in last 24 hours. As bitcoin is down to 2587 bucks a down of 7% in last 24 hours , all other currencies are following suit .

Steem value right now is $1.28 ,close to 19% down in 24 hours volume.

Eth is also 8% in last 24 hours.

Is it due to the Aug1st is approaching or any other reason you think of ?

Are you buying more when it is low or you are still waiting for the right time ? I guess now is the perfect oppertunity to get in . what is your all take on this ?

Please resteem this so that we will know what others think as well who cant see this post now. Thank you