Another crypto crash ! it's not that bad / Vitalik Buterin death hoax fud / investing strategies
In the last 48 hours the cryptocurrency market cap has gone down 22 billion but it's not that bad.
On May 27th 2017 the crypto market fell from 90 billion to 60 billion in 48 hours. It only took a couple of days for the market to recover.
In comparison to today, May 27th was the harder crash.
The main thing I look for in a market crash is for a significant event.
As far as I can tell nothing major has happened in the crypto space. There was no People’s Bank of China spreading FUD like they did in 2013 or a MT GOX type of event. Nobody died.
There was an fake new spreading FUD that Ethereum founder Vitalik Buterin died in a car crash which could have cuase weak hands to dump their ETH.
That has proven to be a hoax as Vitalik has been alive an well on twitter. None the less ETH continued to drop in price.
BUY SELL OR HOLD
There are many investment strategies that can be used in the crypto space but your strategy is important to determine what you do in the event of a crash.
Some people have 10-25% cash reserves to buy the dips and sell when the price goes up.
Currently I'm a bag holder of stratis as loaded up under $8. Until Stratis goes over $10 I will be holding my bags. Selling right now would be the worst thing to do. You only lose when you sell.
I believe stratis devs will deliver on their updates in the coming weeks, thus the price going up.
No one knows for sure but until them i'm going to HODL.
https://www.genesis-mining.com/a/1083441 / Get 3% FREE hashpower with this code: rbvl4F
The death hoax plus GDAX deciding to reimburse those who lost in the flash crash was a perfect storm to ruin the market this weekend.
Great point about staying calm and holding, even in a bear market like this one @joshbar. Also holding on to some Stratis until it hits $10 or $11 and then sell it to get more Sia. Or maybe more STEEM.
That was pretty funny that folks were spreading FUD about Vitalik dying and that he had to go on Twitter just to debunk the death rumors lol. Still that flash crash was pretty crazy!
Keep up the good work Josh!