Re: Coins are CRASHING!!! Is it the next crash? BTC Down to $5300 as I type this!
Well the markets reached all time highs recently so this is expected. I was expecting it to crash a lot lower after the China sell off last month, but we recovered and reached new time highs. I think another crash is bound to happen again. I mean just the beginning of the year Bitcoin was at $300 and Ethereum was $5, now just a few months later look at the prices. There has to be a correction, and that time is now. What do you think?
Like ten of these threads. I'm getting real sick of seeing them.
First I should point out, there was no "Chinese sell off" -- that never happened and was pretty much made up entirely. The "sell off" was a bunch of idiot Westerners who bought into FUD.
This dump has nothing to do with "corrections" and everything to do with the BTC fork involving Bitcoin Gold. Were you even here during the last fork with Bitcoin Cash? The exact same thing happened. People sell off their alts for BTC and then hold their BTC awaiting the fork. They do this to get more free Bitcoin Gold. There is also a bunch of people who will cash out their BTC before a fork because they are cautious and do it in case "something bad happens" ...
Anyone surprised by this or who is freaking out right now, should probably just cash out all their cryptos, because clearly they don't have the stomach for them. Go invest by putting money in a high yield savings account instead ...
Seriously. There is nothing to worry about. Use this as an opportunity to acquire more of the coins you are following at a low price.