The Crypto Bloodbath Continues
Mama said there would be days like this.
Cryptocurrency is no stranger to volatility. Big green days. Big red days.
Today is one of the big red days… but worse than usual. As you can see from the top 10 list below everything is down 10% to 20% or more.
The sell off brings bitcoin back down around $6,000, an important level in 2018. We’ve bounced off of it three or four times already. The question now, we will hold again?
For other cryptos it’s not looking so good. XRP and LTC hit their lows of the year. And the total market capitalization for the entire crypto universe is now at its low of the year too.
The SEC did come out with an announcement on the VanEck-SolidX Bitcoin ETF.
They pushed back their decision to September 30. That’s no surprise.
Of course on September 30 they could push back the date again.
The SEC news, though, doesn’t explain the decline today, at least in my opinion.
On the positive side Coinbase announced that most customers would have their trading limits increased to $25,000.
That should satisfy all but the biggest whales. Of course that was more of a 2017 problem than a 2018 problem.
My plan to deal with the crypto bloodbath is to stop watching the prices.
What are you doing?
and trade cryptos on Binance
and delegate SP with MinnowBooster
Read posts on steemit endlessly to distract myself from the free falling prices.
that's a good idea
Despite the recent bloodbath in cryptocurrencies, Bitcoin bull Arthur Hayes said the popular digital coin will reach $50,000 by the end of the year
He also thought it would go to 3-5k first...
It's incredible as a news which at the end is just a non issue (the approval of the VanEck SolidX Bitcoin ETF has only been postponed to November 30th) can bring the market to such a massive crash.
The crypto market is still so small compared to other assets (like the stock market), that if a group of whales starts to sell massively, they bring the price down pushing down the order book and then the mass will follow seeing the price going down... then they will buy cheaper bitcoins.
That's why I don't trade!
Ahahah! Not even me right now! But when the market is in a better shape, is a good way to increase your positions :)
Good @g-dubs. Saludos.
Every Blood Bath is a oppurtunity for me.
crypto boring because we can't make no moey
Lol, yea more fun when the prices went up!
true sir
I don't keep with the price news. That's the only way to hoddle stress Free. I only panic if bitcoin is not performing well year to year which hasn't happened yet!
here's my 2 cents on the matter\
My plan is to watch the market carefully and pay attention to any price catalysts for future reference.
This is a great time to buy some amazing coins.looking for rpx snov and prl