All cryptos were hammered today. As I type: BTC: -10% ETH: -12% BCC: -11% LTC: -12% NEM: -17% NEO: -20% BCN: - 21% And many others down 20-25%. Will be interesting to see how this one plays out.
That's because Jamie Dimon just declared Bitcoin a fraud, and we all know what an upstanding person he is.... Could it be the banksters are getting scared?
Meanwhile my $PTOY and $TNT is doing great despite the China/Jamie Dimon shenanigans. Pays to diversify your portfolio into mid-caps and emerging ones.
The easiest thing to do is just buy and sit tight, you just have to look at the last twelve months to see that. Trading has it's pitfall's especially if you don't know what your doing, but the opportunity to make a motza (or conversely lose one) is often there by the bucketload short term if you have a little patience and only use funds that you are willing to lose in the first place. We've seen this pattern time after time over the last few months, huge gains followed by blow offs that then trun into even bigger gains yet again. Don't use money you might need short term or can't afford to lose, take some profit when there and put it into something else :IE diversify your crypto portfolio or chuck some into Gold/Silver instead, there is nothing sweeter than a free carried asset that continues to climb in value over time. It's a roller coaster ride for now and the ride still has a long way to go before all the trash is taken out, but there is a reason why Banksters are on the offensive and Gubmints are wary of blockchain tech, and that is that they are behind the eightball on all this so far and have failed to grasp just what it all means.
Another big drop, market cap down to 125 billion now. Atm people are pricing this space as if the news about China closing down exchanges was just a rumor, imagine if it turned out to be true.
Yes, I suspect this blow-off will take some time to recover, and it will be slow. Probably an excellent time for accumulation for those in that game.
Massive panic selling going on in China atm! BTCC selling bitcoin under $3000 USD now. Market cap is falling like a rock. I think people are starting to get wind that the Chinese news was not a rumor.
I suppose it would suck if you were all in Bitcoin and not in the alts that are doing well despite the panic. $TRST, $PTOY, $ARK just to name a few.
Well, you either decide to be in the long game, or not. If not, then why even be in here talking about crypto? Bitcoin did nothing for a year after the last major spike. I cashed out my tradeable bitcoin last night and took profits.
The very few. Looking at the list of tradeable coins on Coinspot for example shows only two alt's positive in over 50. Almost all the others are double digits losses in the last 24 hours. Safe to say essentially the entire market got hammered.
You can be in it for the long term, but doesn't mean you have to think irrationally overlooking major issues and think something will go up forever. People need to stop being so emotional with it and see it can come down a lot and admit there are issues. All I've been doing is warning about things that would cause cryptos to drop a lot, how is that a bad thing? and all people did was give me crap and say FUD. well looks like all that "FUD" was real rational thinking. Why buy silver for $50 when you can buy it for $25, why buy bitcoin for $5000 when you can buy it for $2500 and so on...
Just checked the Stack - same height, same weight, same purity. Whoops, talking about 'REAL MONEY' in the *Crypto Space ha ha ha. My Bad, I think you young-un's say. p.s. Wouldn't be dead for Quids - as we old folk say. _JOHNLGALT. Any vitriol, please direct it to JOHNLGALT. p.p.s. Haven't had so much fun since we kicked granny to death, (just joking).
