Why is this market Crash healthy?
Market Crash
I think this has to come and it is good to see it. There was too much attention. Too much money in and too much people in not because they like or believe in the idea of Blockchain, but just because someone just told them to join to earn easy money.
Also, the value in Altcoins was unhealthy there are lots of good ideas but also lots of altcoins, which don't have any vision and was overvalued just because of this gold rush. I personally see this as a good opportunity to buy more of good cryptocurrencies. Value of Crypto should skyrocket once they have a real use and are more adapted, but to be honest how many of altcoins are not even close to having some real use.
What do you think about this market crash?
Thank you
Do you want to receive 100% or more value of your votes back? If the answer is yes, then try SteemFollower.
@resteemator is a new bot casting votes for its followers. Follow @resteemator and vote this comment to increase your chance to be voted in the future!
only let air out - no bursting bubble! what do all critics expect? BTC has raised over 1000% since january 2017 ... AFTER the current correction. absolutetly healthy what do happen now.
I think the healthy market cap is +- 400 000 000 000 USD. There is to much money in alts.
The entire crypto market gathered too much attention too quickly when BTC aproached 10,000 USD for the first time. Once the media started talking about it, making it look like easy money to some people, prices got inflated for all the wrong reasons and a correction was bound to happen. Honestly I'm glad it didn't take too much time for it to happen else it would have been a much bigger disaster!
Peace! ✌
@chiren
Totally agree. Media made this worse.
It was always coming after the huge gains before xmas. Combine with all the rumors out of asia and we had a big downtrend.
Once everything settles down and people realize that the sky hasnt fallen, people will poir back in to pick up the value amd we will be back on track. Its just a matter of holding tight for a while on the good coins.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Kalam from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.