Cryptocurrency Is Rising Again...

in #cryptocurrency6 years ago (edited)

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The story of South Korean's Coinrail exchange being hacked and making crypto fall over 10% yesterday in my opinion is a head fake. I been watching crypto now for a year and have seen other hacks with greater losses create minimal to no damage to the overall market.

One example is the Japan's Coincheck exchange where over half a billion in XEM was stolen. Lete me write that in a number, $500,000,000+ stolen. Of course Coincheck and the crypto community reacted rather good and fair to people who were effected which made the situation less severe.

The point I am making is the recent drop in the overall crypto market is nothing but a fear tactic to weed out the weak hands. Who wants to sell at a lose now if they bought in when bitcoin was over $10k? There maybe a technical or better reason as to why we had the sudden drop but to say one hack that is relatively small with respect to the over market cap makes it very difficult to believe.

Thanks for reading.

If you wish to learn with me on anything crypto related please follow me: @mawit07

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Date of Post: 6/11/2018

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interesting. its good to hear reaffirming words from someone whose seen these drops before. im a firm believer. what goes down must come up.

Not as much a believer in timing markets but am believer in crypto and its potential. Holding investments in crypto means we believe in the tech. Thanks for dropping by.

To be honest, I do not buy into​ the story of getting hacked that easy. I think this is an act of pure manipulation​ to drag the price down before moving up.

Needless to say, I have invested more during this heavy dip :)

kudos. buy when there is fear and sell when there is none.

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