Crypto markets are seeing Red
Bitcoin and the rest of the crypto space is seeing red in a major way today.
(Source: https://coinmarketcap.com/)
Unlike in other cases recently though, it isn't entirely clear what is causing the selling.
My guess would be that this is a big part of it:
https://www.ccn.com/bitcoin-gold-hit-by-double-spend-attack-exchanges-lose-millions/
This marks 3 coins in the past week or so that have been manipulated and taken advantage of by bad actors.
While the blockchains themselves weren't exactly hacked, the end result might as well have been the same.
People seeing how easily this could happen are likely throwing in the towel on cryptocurrencies.
Confidence is a tricky thing in financial markets.
Then there was also this playing out in the background:
Bitfinex was forced to asked some of their customers for identification which can then be used by local governments to enforce taxes on cryptocurrency gains.
As you can imagine, many in the bitfinex community that had enjoyed staying anonymous were not at all happy about this development and have been moving their holdings off the exchange, likely contributing to the recent selling.
Then you can't ignore the fact that risky assets globally are being sold currently.
Especially in Asia.
Check this out:
(Source: https://sg.finance.yahoo.com/news/bitcoin-gold-hit-double-spend-155222119.html)
As you can see, Asian stock markets are down significantly as well.
With some down nearly 2% on the day.
Steem had been outperforming in the past few days.
Even today it wasn't down nearly as much as everything else:
(Source: https://coinmarketcap.com/)
Though, now it is quickly catching up to everything else.
Today is a terrible day to be long any cryptocurrency. The question now becomes whether this is a one off event or likely the beginning of a much bigger slide?
I wish I had the answer to that question...
Stay informed my friends.
Follow me: @jrcornel
I just keep buying every time we have a $250 or greater drop in BTC; after it fell below $8,000.
Wish me luck @jcornel 🤓😬🤓
This is so depressing I need a break from crypto for a while. Im gunna leave everything where it is and do something else for a couple months :)
gd job
Well gimme some positive feed back , pls . Couse i have -1. Before you leave .
should take some time off, market is not yet to recover.
I think this is going to go for a bit then big investors are going to enter the market. And it is good to see how well steem is holding in all this.
We will likely test 6k again i believe. And its very important we hold else its free fall to 1.5k
we can see more red i`m not buying yet
Petro fuel perhaps? Atleast, Steem is green :)
I'm tired of the current state if crypto market.
That is exactly how big money market manipulators want you to feel. They want to make you feel afraid of losing your money, so you'll "cut your losses" and sell out at a low price. When you sell, you will then make your loss a real thing - for you. Do not doubt that crypto is the way of the future. BitCoin is solid and will rise, massively, in the future. This is when you Hold On For Dear Life, HODL. Hopefully you're not depending on your crypto money for everyday survival and paying bills. If so, you're over-invested in cryptos and that was your first mistake. Do not make it worse by selling at a loss. This is temporary. Mt. Gox is dumping BitCoin on the open market to settle their lawsuits - and they are almost out of BitCoin. So, moving forward, they will be much less able to hammer the crypto markets in this manner.
BitCoin will catch a bounce at $7,800 - $6,000. It could be lower, maybe $5,000 - $3,500 - but I don't think that it's likely at this point in time. We'll be seeing at least double or triple the current price before the end of the year. By the end of 2019, if you HODL, you will be excited again. Patience.
Buy the dip?! :)
Buy all you can now.When the next big pump starts,you must be ready.
Time to take the coffee can approach. Look back at prices in 2020.
How many hours can I last? My guess would be a couple of hours max. My biggest addiction is hard to break :P
The problem with this strategy is I will miss out on the best up and coming opportunities. Hopefully this will not be too much of a problem by owning some BLX tokens (go go iconomi).
Any resources that cover the latest Crypto's which only takes a few minutes to review each day/week?
Nice read.