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RE: What is going on with crypto?
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.
Exactly. A lot of the time it is just a correction. A correction means that too many people bought in and are holding usually, and the people buying are getting smaller and smaller because they already have some. So what invariably happens is that the sellers are selling too much and buyers buying too little = price correction.
Others see it and join in on the dump, then over the next week things stablize and we start to see a steady increase in pice again(assuming there is no big MTGOXhacks or crazy stuff) !!!
Ithink we are ok, buy some coins at a discount, when you think price is too high in a week or two, think about selling some. Price will go down again and the cycle will repeat. It has happened 3 times so far in the last 40+days.
Steem on!
I completely agree with you. This is what I am trying to communicate with this post. I am just sitting back and enjoying my investment. :)