BLOODBATH In The Crypto-Markets Today! What Does This Mean?
Today the cryptocurrency market cap dropped $5 billion to about $110 billion. Most cryptos came crashing down like a rock except a few including Litecoin...
I don't like to speculate and make predictions because it's not my profession and it's somewhat irresponsible. However, I know the markets well and I have to say, this is incredibly healthy and I'm rather glad it's happening! I'll quickly show some of the coins I've been following below.
Ethereum's at $363:
Bitcoin's at a stunning $2509:
Golem's at $0.509:
Litecoin's up nearly 1% at $30.60:
And the one and only STEEM is at a solid $2.00 following its peak at about $2.80 earlier this week:
When the markets take a breather, especially when we're talking about decentralized markets based on individual free market demand, we know that it's a good time to buy. That's my opinion anyways.
I do have to wonder however, where did that $5 billion go? Who held it? The markets weren't exactly peaking when it dropped as one would expect.
This is the second bloodbath in the last week and a half following the late May correction. Looking at the prevailing rallies we've seen, I'm optimistic and looking forward to the future!
Thanks for reading and don't forget to Upvote & Follow! :)
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Bitcoin:
Ethereum:
Totally agree thay we've needed this correction. Red = flash sale get it while its hot. People without plans going into crypto are like people without life jackets on a sinking ship. Now is the time to make smart moves to profit from. Strong hands and cool heads will prevail.
Very clever words. I 100% agree
Thanks! Very much appreciated, hard truth and reality to this game. Weak hands WILL get shaken out!
Thank you. Followed.
Thank you, followed back! :)
These are healthy for crypto, the long term trend is still up so this gives us a buying opportunity. This is just a guess, but the Fed raising the interest rate 0.25% may have put confidence into the market and pulled some of the money away from crypto and into the manipulated stock market.
Seems highly related to the Bitmain announcement.
I am just chilling, thinking I guess I will have to downgrade from Stella Artois to Heineken this week. Next step Panama national beers.
LOL Precisely. Well Jeff is starting to buy up now so I'll probably follow suit. The thing is, I keep buying where I think the floor is only to see it fall further and lose a few thousand. haha
I sold all my cryptocurrency yesterday
I'll buy back later
What on Earth did you do that for? lol
Just for fun :)))
I always do that before any type of. Or in case of bitcoin hardfork I'll be back after 1st of August
If we look at historic data it's easy to guess that this Fall is not bad! For Bitcoin investors, yes it might be. Definitely not for others. Ethereum was around $260 on June 7th and now it's still almost $350. $100 overall growth within a week is not a bad sign :)
great job, :)