Crypto Crash everyone’s screaming crypo’s are dead, sell everything you own bitcoin is a scam/fraud. Well sure some ICO’s are a scam yes do your homework folks, Bitcoin a fraud or scam? If you understand Blockchain technology which is the underlying technology of bitcoin, you know bitcoin is not dead, in fact you can’t kill bitcoin…sure the price can drop to near 0 but it’s still not dead it will always be around.
The big question everyones asking, should i sell all my crypto currencies. That is up to you and depends on your trading skills and how long you plan to hold for. If you want to hold till 2020 or longer, just hold on tight I believe you will be fine. If your skilled at trading you already know what to do. buy the dips sell the small rallies.
Bitcoin Charts do show bitcoin is headed lower yes, just keep in mind once the bottom hits possibly while your sleeping depending on where you are in the world. You may be too late as it will rise just as fast as it falls, A good example is how fast is has risen and now heading down. There are many line son the chart showing the old trend direction and the new one, these lines have been here for 7 days now.
Yes this is a healthy correction sure some can call it a crash, for the market to continue to trend upwards we need these corrections, after all bitcoin in september 2016 was $600. So even if it drops to $2000 that,s still massive gains in just 12 months, if we did not see this correction now we would see it later.
China news has fueled the sell off and possibly will make this correction even bigger, is china really outright banning ICO’s and Banning Bitcoin, closing all exchanges. No china is a very smart country they will try to regulate it as much as possibly just like any government will. In the long run this will help crypto currencies become mainstream. The world is already brainwashed to listen to governments and do what they say, where im from its hard to not be controlled by the government.
Do you honeslty believe china will ban Bitcoin when russia is trying to make them actually easier to invest in for their public. Earlier this year china banned bitcoin trading once, well look what happened bitcoin turned into a rocket. The Russian Finance Ministry is drafting a bill to regulate the circulation of cryptocurrencies, said the Finance Minister Anton Siluanov in an interview aired on “Russia 1” TV channel on Saturday. The Russian state-owned news agency Tassquoted him saying:
All countries are working to legislatively regulate the use of this financial instrument, and the financial instrument is very volatile, that is, today it has one price, tomorrow another. In order for us not to have so-called deceived investors, regulation is necessary. The Ministry of Finance will prepare such a draft law by the end of the year.
Where does that leave us with what to do. personally i wont be selling now my accounts are down 20% some of them, my cash account i am ready to load up on the coins i see as a “deal”. Previously I had written an article on NEO and september possibly being NEO’s ICO month, clearly china news has destroyed that theory, but i do believe NEO is not dead and will come out better after china figures out how they will regulate ICO’s, after all NEO has support from china. Could this be china’s plan? Drop the price load up and let them sky-rocket, Personally if i ran china that’s what i would do.
thanks for reading as always comment on anything you want to know more about or shoot me a direct message with any questions you might have if you are new to crypto currencies. Notice the main picture for this article, states 2014 as in the future, they said bitcoin was over then, I’m pretty sure it said bitcoin would be $10 by mid 2014.