Crypto Takes A Bit Of A Whollop
It seems like cryptocurrency is back into its trends of slowly increasing and then a massive sell off. This every would could be the actions of a few whales gaming the system. But this does not mean you can't smarten up and start playing the game yourself.
Just like with stocks even though prices have slumped like crazy as long as the fundamentals are in place and things are looking good for the company if your a long term investor then buying up more at the discounted price could help both increase your core value and collect you dividend on top of that.
Before I push in any further please note this is not professional advice and is only for entertainment purposes.
Today very few coins are up and they are the ones that have so little value/ market cap that it really does not matter. The overall trend today is a massive sell off that also looks to be increasing. The market value at the moment is 122 billion but remember we have seen it slump to 109 billion which I think is about where we will end up hitting bottom again. That means we still have a bit of a ways to go in terms of overselling the market and for those greedy whales that play the game to start buying up again.
There is also another take away from this. That is to not only look at the cash value of coins but instead look at the BTC value of coins. Often times you might see a 10% decline in price but the value in terms of BTC has actually ticket up which could allow you to sell at a profit in terms of BTC.
I wish the capitulation would just happen already as this impacts longer term potential as it drags on... I am looking at some interesting opportunities soon.
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Just when I thought it already bottomed out... ok, all we have to do is wait or buy when we have extra money, eventually it will go up soon.
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And the whales laugh about us every time again and again. With stuff like this happening, an ETF will never come. Upvoted and resteemed!
I have no hopes for a ETF maybe some how getting it in the stock market in some way but the SEC is never going to approve it and we should really stop waiting for it.