Market down :(
Hi Guys,
What is going on? Why is the market going down? The total market cap of all coins on coinmarketcap is below $500bn!
We heard the "news" of USDT. They received a subphoena stating the founders of USDT ie Bitfinex to prove that USDT is fully backed by USD. We all know this is not the case. So don't understand why this is impacting the market.
The next reason I came across is the US citizens have to pay their taxes on the crypto profits. But the tax return for 2017 is due 17 April 2018. True crypto investors would not sell at this moment but when the markets is going up. If you have until April to file your taxes then why would that be a reason for the current decline? Maybe somebody can comment on this?
What in my opinion is the reason for the recent decline is that rules and regulation is coming. This is not a bad thing. Absence of rules and regulation creates uncertainty. Uncertainty creates fear and is reflected in lower values.
I visited the ICO roadshow at Amsterdam past Monday and Tuesday. A speaker there (Nick - forgot his last name) made and interesting comment/warning. He said most exchanges are trading security-type-coins without having the proper security dealing license. By doing this, the exchanges are breaking the law and get huge fines are even/most likely jail time. Be careful where you are holding your coins.
Lets watch this development closely.
We are approaching the positions of the TMC just 15 days ago, so look at it in another way ... there are 334 days left in 2018 to move the course towards the moon.
Agreed
#hodling
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I believe that this decrease in bitcoin price is caused by a panic coming from small investors. Those investors - I would call them quick investors bought crypto back in Novemebr-December 2017 which led to price spike. Those investors hoped on further price increase which actually was promised. I remember a promise start of January 1 Bitcoin will stand at 28000 USD. Did that happen? No
So they keep selling because they see only losses. Soon they will clear up their speculative positions and hold people will start to gain. Crypto has huge potential - we see it many ICO promises. Those projects need to deliver - it will be good for crypto price aspect.
On the other hand many ICO will fail - we will see what comes in bigger numbers. It is hard to predict.
Thanks for your valuable comment.
maybe this decrease is due to the market price drop.Thank you for updating about the current cryptos price reductions.
Thanks for your post.
Thanks for updating about the current dip in crypto prices. It gave us some idea what is happening with the prices. I appreciate your tip for holding the coins at this stage. I will certainly wait and see. I think recent low trend will last soon.
Thanks.
You are welcome.
The market of course has a mind of its own, and I think it knows that Bitcoin isn't strong enough to hold up. Sometimes it is hard to predict no doubt, but I feel as if the Market knows that there is another coin thats stronger than Bitcoin, but the question is... Which #crypto is it? May the "Games" begin.. Right? Lol....
Everything connected to the BTC has a final resistance of 7500-7800 after the days left. It is not wise to sell these levels at all, but the final vibrations are done, but I do not know how long the eyes of the whale are dying. By the way, the biggest 100 BTC wallets have not been sold this week, only sold 1 3000 BTC. These sales are all panic sales of small accounts..gif)
That's true investors sell their coins when they see profile . My prediction is that it will stabilize soon...
Hope for the Best!!
Yes hope for the best.
yeah we just hope that bitcoin and the other currencies rise again ...
In India indian goverment action against bitcoin so many people sell coin more than 70% this is one of the reasons down market in India not fully ban bitcoin in India...
In crypto currency market fluctuation is normal case, market will goes up very soon.
Thanks for your support.
steem and sbd is going down its wondering.