Cryptos are plunging and I am happy! Steem down by 28%....
Hello all,
The whole crypto market has been going down all day long and does not seem to be taking the rest. How low can it go? Nobody knows, it could reverse at this moment or in the next next day or two. I believe it is caused by the bitcoin segwit activation/scaling debate as well as by ethereum problems but some coins are taking a real dive. Steem, for example is down by 28% at the time of writing which is quite surprising for it to drop that much. Overall, why do I not care? I believe in the long term success of crypto and this will only give us great buy opportunities if you have positioned yourself in that way. Would be interesting to hear your thoughts?
Tomas
CEO & Founder of CGH
Don't worry about the recent fall, all cryptos are down, it is called a market correction and it happens to all asset markets from time to time. After prices go up high and quick lots of people start to pull out to realize their profits, other people believe that the market is overvalued and other people just get scared and run out. It is ideal to sell before the correction but if you find yourself in the middle of it it is best to hold your coins and wait for the rebound.
I think it is very hard to call the tops and bottoms.... by selling you can be left behind... I have been waiting for the drop and will add to my BTC holdings at the end of the week and then again after we have clear results on segwit activation and possible HF... If BTC forks the market will crash down real hard so you want to have some money left then for buying low. Just my thoughts!
Just picked up about 20 more steem power and should be increasing that a bunch over the next few hours ;) WOOT! When everyone panics its time to buy
Great call!
It's a good time to increase your positions. I'm adding to mine. To all the people selling, thank you!
Might be little too early to call this a bottom but then who knows.... I am spreading my left over USD for the time after segwit activation if there is a HF.....
Steemit is on its way to conquere the world of social networks and Steem's price will head to the sky soon. You may like mi analysis on that topic: https://steemit.com/steemit/@godfish/full-steem-ahead
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It's a good time to buy more :)