The Crypto downturn

Wow! The Crypto market has taken a beating over the course of this month, with various Asian governments apparently aiming to crackdown on mining and exchanges, China looking to outright ban centralised trading and various international banking names trashing the crypto name by spreading FUD and trying to deter new would be investors from getting involved.

So taking a look at coinmarketcap could cause some serious concerns for those invested and we can see the effect of that as people panic all over social media begging to know whether to sell or not.

The truth though, is much less scary. Each year, during various Asian new year celebrations, millions are traded back out to fiat currencies to cover holidays, festivities and gift giving. Add this to those from western cultures who are selling out to cover new year bills etc and suddenly the picture becomes clearer. This isn't a crash, it's a new year correction, preparing for the next period of growth.

And so it is true, if you take a look back over the last few years, January always holds a dip for the crypto world, but it's not the be all and end all and growth will reappear as we move further into 2018.

I've seen it in various places and it couldn't be more true. It's January sales time in crypto land, with prices dropping across the board, now is the time to stack up in your favourite coins and tokens ready to reap the rewards later and for your existing holdings....