When bitcoin sneezes, the whole market catches a cold
Why all the FUD? Has there been any fundamental changes in what we know about Bitcoin or Cryptocurrency?
Has Bitcoin been hacked or been shown not to work?
Have the applications for exchange traded funds for Bitcoin been withdrawn?
I am happy for the FUD, it removes the weak hands and will lead to more stability going forward.
So for those of you that still have your head screwed on, what will you be buying in this flash sale?
I picked up some more Cardano and Bitcoin Cash ;)
My favourite 3rd gen project and what I see as usable bitcoin. Yes, @rogerkver got to me with his videos!
If the market falls any further even EOS might look tempting.
Here's a snapshot of the market so you can all look back and wonder what you were doing at this hour in 12 months time
And here's a graph of Cardano against USD, remember the smart contract layer is coming later this year.
Enjoy the ride
@kabir88
Go here https://steemit.com/@a-a-a to get your post resteemed to over 72,000 followers.
No idea about the FUD. I've read stuff in regards to investigations of manipulations on the exchanges' end.
Yeah, I agree...many things seem so promising to pick up right now. I'm still waiting to see how staking works in ADA. I feel like picking up more BNB may be a good idea.
Dang, even LTC looks okay right now. So much potential. So little funds!
I like ADAs approach to staking, they are not just picking a random number for rewards. They have a whole team looking at the structure, the rewards and doing some game theory to make sure the proposed staking system doesn't produce unintended behaviour (like we have with steem).
Slow and steady wins the race in my view. Look at the mess that is the EOS mainnet launch. It fell massively today, down by 20% at one point.
As someone who has invested and traded in stocks and Forex. The key is to feed your money in slowly at each dip. No one knows when the bottom will be, but if there is value to be had, buy it on the dips a little at a time.
I was at work the day Lehman Brothers went bust, saw them all walk out of the building with boxes... I went and bought loads of shares as the banking crisis FUD was forcing a sell off in some totally sound companies. Stuck it all into my pension, did really well from that trade.
A truer statement has never been said. Anyone telling you any different is probably some insider you should stay away from in my opinion.
There is no FUD, someone either decided to dump big time and other algos got triggered, or massive stop losses got triggered at a key level between 7000-7200.
I don't see this as a problem, this is actually a buy the dip moment, there's actually only positive news i have heard since consensus so i don't know what the hell is going on here. This is probably to shake out the weak hands.
I think so too, I reckon someone just wanted to play with the market.
The problem is crypto is full of amateur traders who panic and don't know how to use stop losses properly.
It's called a "stop" loss, not "prevent" loss. Some are using stop losses as a way to avoid any loss and setting them too tight. This is a mistake a lot of new traders make in spread betting and Forex. Same human behaviour, different markets
This means its really easy to trigger those markers and bring the market crashing down, then pickup assets at cheap prices.
They are getting played
Yeah, plus i think a lot of amateurs are looking at youtube vids to place buy orders at various levels and screwing up "stop loss" points. There is way too much herd mentality in cryptos.
I wonder if this correlation between Bitcoin and other coins will ever go away. I feel like the fact that everything reacts so heavily to it is holding the crypto market as a whole back by a lot.
I think some coins that have their own income streams and business model will break away, like BNB which has held well in this market.
Why is Haejin downvoting this comment?
What a sad human being
I see. I am also thrilled to see how this will affect Steem and Steemit in the future.