I think the current market status is a mix of several events... some were predicted, some seems to be FUD to push this events.
-Historically there´s always a The January Dip.
https://ibb.co/dAURu6
https://www.reddit.com/r/CryptoCurrency/comments/7qqfcz/everybody_relax_heres_the_reason_for_the_dip_and/?st=JCHIAL4C&sh=b8f77939:
-Mix that with all the intentional Fud from a few authorities (in many cases just personal opinions for a vey sensitive market)
Korean, then China, Usa...even EU...
https://cointelegraph.com/news/german-central-bank-director-crypto-regulations-must-be-international
https://cointelegraph.com/news/china-after-banning-exchanges-authorities-move-to-close-exchange-like-services
https://cointelegraph.com/news/crypto-market-suffers-from-uncertainty-in-asia-losses-up-to-40
Just remember... you can not regulate a blockchain... and even if you do, that doesn´t translate into killing it or destroying a network, the usability and the market behind it...
See the bigger picture... see how NEO came from 53$ to 13$ after the china ICO ban.. and it´s now around 150$....
And as the oldschool ones say... BUY THE DIP, SELL THE HIGHS. NOW IT´S THE DIP
-Historically there´s always a The January Dip.
https://ibb.co/dAURu6
https://www.reddit.com/r/CryptoCurrency/comments/7qqfcz/everybody_relax_heres_the_reason_for_the_dip_and/?st=JCHIAL4C&sh=b8f77939:
Quote
Asia still dominates in crypto-trading by volume, accounting for the vast majority of money flowing in and out. Guess what is coming up in 3 weeks? Lunar New Year. Lots of money is flowing back to fiat to buy presents and plane/train tickets.
People spend a TON of money on travel and presents during Lunar New Year. This is their Christmas. This is also the largest mass migration of people on the planet, occurring over two weeks. Projections are for $100 billion USD in spending. [https://www.forbes.com/sites/ywang/2017/01/26/worlds-largest-human-migration-begins-chinese-new-year-2017/#3a6d5502999a]
Remember that the crypto market is antithetical to the stock market. Stocks boom when business is booming during the holidays. Crypto investors are retail investors, not Wall Street investors. Retail investors sell during holidays, thus the crypto market falls.
This selloff has happened exactly 3 weeks before Lunar New Year each of the last 4 years.
Evidence: https://i.imgur.com/xKFssKT.jpg [credit: u/Secruoser]
So, everybody chill out for a week, the bulls will be back by February. You can't fault these Chinese and Korean bros for taking major gains to buy some cool shit for their families. Hell, if you want to, buy up their cheap coins in the meantime.
1081 comentarioscompartirguardarocultarregalar goldreportarcrosspost
People spend a TON of money on travel and presents during Lunar New Year. This is their Christmas. This is also the largest mass migration of people on the planet, occurring over two weeks. Projections are for $100 billion USD in spending. [https://www.forbes.com/sites/ywang/2017/01/26/worlds-largest-human-migration-begins-chinese-new-year-2017/#3a6d5502999a]
Remember that the crypto market is antithetical to the stock market. Stocks boom when business is booming during the holidays. Crypto investors are retail investors, not Wall Street investors. Retail investors sell during holidays, thus the crypto market falls.
This selloff has happened exactly 3 weeks before Lunar New Year each of the last 4 years.
Evidence: https://i.imgur.com/xKFssKT.jpg [credit: u/Secruoser]
So, everybody chill out for a week, the bulls will be back by February. You can't fault these Chinese and Korean bros for taking major gains to buy some cool shit for their families. Hell, if you want to, buy up their cheap coins in the meantime.
1081 comentarioscompartirguardarocultarregalar goldreportarcrosspost
-Mix that with all the intentional Fud from a few authorities (in many cases just personal opinions for a vey sensitive market)
Korean, then China, Usa...even EU...
https://cointelegraph.com/news/german-central-bank-director-crypto-regulations-must-be-international
https://cointelegraph.com/news/china-after-banning-exchanges-authorities-move-to-close-exchange-like-services
https://cointelegraph.com/news/crypto-market-suffers-from-uncertainty-in-asia-losses-up-to-40
Just remember... you can not regulate a blockchain... and even if you do, that doesn´t translate into killing it or destroying a network, the usability and the market behind it...
See the bigger picture... see how NEO came from 53$ to 13$ after the china ICO ban.. and it´s now around 150$....
And as the oldschool ones say... BUY THE DIP, SELL THE HIGHS. NOW IT´S THE DIP
Excellent post mate. The sad thing is, most will not get it and panic and create multiple threads asking whats going on. Times like this are an excellent chance to buy up and buy up good.