RE: When I look at the Cryptomarket...
Well, I have the same thoughts about crypto trends except I am not shocked actually. I know from the beginning what I am dealing with . It's crypto man, it's decentralized, It's in he hands of common man and the normal people will only think about himself. People don't have the ability to think for greater good, they can only think about themselves and same happened with crypto.
As soon as the Segwit hype has been started blowing, people are selling in huge amounts, and even some are selling in loss. This is the way people thinks. It is always the way.
But there's is one hope that cryptocurrency potential will be recognised as soon as this Segwit hype got over and everything will come into place.
Don't worry @sjennon. Your money is not going anywhere, at least if you don't sell your share off in the market right now.
What's the Segwit hype? :o
And no! No way I am selling with a loss!
Segwit means Segregated Witness, a means to increase the block size of Bitcoin from 1 MB to 2 MB. In simple words, it will increase the transaction speed of Bitcoin which is a concern for past few weeks.
Now the crux of the matter is that Segwit is about to be installed in Bitcoin Protocols till the end of July and there are mixed response by miners for it's acceptance in Bitcoin platform. If Segwit gets approval then It will increase Bitcoin pricing very much in coming months but if not, the price of Bitcoin may fall down severely.
So, that's they hype. People are selling hugely in fear of losing more on later date. That's why market is crashing for a few days.
I hope you did understand this whole concept . @sjennon
but BTC is holding quite well... i would think it should be they other way around?!
Yes, It can be other way around. That's why I call it a hype. Wise investors are investing right now and the fearful are selling their shares. I just hope price will rise to the moon and it will for sure.
Thank you for your explanation. It makes a lot of sense now.
BTC is pretty huge so I think it should turn around eventually. The people buying in now are maybe more at risk, but are also the people who carry BTC out of the slums.