When I look at the Cryptomarket...
I am not the greatest cryptomaster, but when I see BTC, STEEM and SBD crashing down, it means something is off.
I use Blockfolio on a daily basis to check out the latest updates on these three crypto's, but the last couple of days haven't been my favorite.
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Ever since Poloniex blocked SBD, the value lowered and then got stuck for a bit. As soon as Poloniex lifted the block, is somehow all came crashing down together. WHAT HAPPENED?!
I am pretty sure these aren't just the common ups and downs.. Anything blocked again? Someone harvesting millions? What what what?
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What are your plans? Sell? Buy? Sit down tight?
Well, at least there's one thing..
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Concentrate on the Crypto ECOSYSTEM and learn to EARN crypto daily instead of just trading these crazy swings.
Hence I try to post every day :)
It's as simple as supply and demand. Opening the gates led to a selling spree. The days when you could get 11k sats for sbd are officially over.
You hit the nail on the nail @funkit. Good Post @sjennon, ima upvote
It's a great time to buy Ripple and Monero :)
Indeed
They all have that potential to climb mountains but sometime you wins sometime you loose.
It's just that people are selling in a huge amout
Thank You for sharing this amazing post with us @sjennon
Ah okay. I shall sit tight then and pray :D
i plan to hold on....cuz the long term prospectives are quite bright...blockchain has the power to change the whole orthodox financial system completely!...Western Union can run out of business since blockchain can easily take its place...how easy it would be to send the money overseas...instant and without paying much comission! Infact people are already doing that it's just that it is still not mainstream. There are a lot more ways in which cryptocurrencies are going to change our lives. Today the health of our monetary system is completely reliant on banks and other financial institutions that we are forced to trust to make wise and prudent decisions with the money we give them. Blockchain can change that forever. Cryptocurrencies are here to stay...i have faith :D...blockchain itself is super secure..all we need is an equally secure wallet and marketplaces
Same happend to me, my ethereum whent down so much and it makes it hard to even look at the graphs when they are just showing signs of going down..... hopefully they down around and do this fast haha
Its depressing right :c
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.
It's like that, it can not go all the time, some withdraws their gains in fiat. Anyway I will follow you because you are someone friendly.
Haha thank you!
hahaahahaha loved the meme at the end!
Sounds like a Huck'L'buck....if ever there was one @sjennon !
Hehehe!