What is going on? Labour Day Sale!!!

Hello Steemers!

So I know I said I wouldn't be posting for a while because I'm too busy right now, but the market is going crazy so I have to give some sort of insight.
The madness of the fire sale is a combination of different factors. Firstly, a correction was in the works. With the big coins reaching ATHs and mid-range alt-coins multiplying in value there was bound to be some level of push back. The expectation would have been for bitcoin to fall to what it is, maybe even more, ETH, LTC, and Dash to fall maybe 5-10% and other mid-range alts to drop 5-10% as well, with some rising and others falling depending on each specific life cycle.

The reason this correction was compounded to 20-30% losses overnight is because of the announcement banning Chinese ICOs. Obviously this is a blow since it is major government push back against cryptos. But is it all bad?

Well, Chinese investors can still participate in the market. The only difference is that companies can't raise funds with ICOs. This means that we will see more ICOs from other countries instead. Further, it is just some regulation entering the playing field. The USA also has restrictions. I see no problem with some regulation oversight, it will only make the quality of ICOs improve. In the long term Chinese competitors will bring some healthy competition while in the short term we may see sub-par ideas from other countries beat the Chinese to market.

As for NEO, it isn't a Chinese platform. It got its moniker because it is a blockchain that was developed in China, but any company from any country can develop an ICO on the NEO platform. Sure it probably would have been a majority Chinese companies but that isn't a self-imposed limitation. Once the Chinese government learns how to implement regulations, they will be allowed to engage in ICOs. So NEO is harmed in the short term, but it isn't dead and still has long term potential. In the short term it may be smart to move your investment to another asset that will recover more in a quicker time frame, and reinvest in NEO a bit later on, or you can wait it out.

The final point is...INVEST MORE! Take advantage of the news, do research, invest in good quality crypto assets and wait for the market to recover. Call it a correction, dip, or whatever else you want. I call it an opportunity. You WANT to invest when the market is down, it's riskier and lower opportunity when the market is at all time highs. After all that's a major factor in why people have invested so much in crypto instead of the over-bought stock market.

The choice is yours, this is an commentary piece, not investment advice. Don't make any trades with expectations from my analysis. Take the assessment and make your own judgement calls.

Happy investing!
LTRunningMan