Relax, there are just more sellers then buyers right now!

CRYPTO MARKET FACES STEEP SELL OFF!

We have seen most cryptocurrencies selling off over the past couple of days, as the overall market cap has fallen from about $115 billion USD to a current cap of 93 billion! Bitcoin is the only cryptocurrency in the top 20 today that isn't in double digit red. Bitcoin dominance over the market has been growing as everything falls.

Why is this happening?

There is a lot of speculation going on as to why this might be happening? I think it's as simple as we are seeing more sellers then buyers. Cryptocurrencies have seen unprecedented growth in 2017, corrections are going to happen, and they may be quite aggressive.

What should I do now?

I'll start this paragraph by saying that I am not a financial advisor and this is not financial advise, but I'll talk about what I do in these situations. For me, if I fail to sell near the top, I won't bother selling near the bottom. When we get down to these shockingly low numbers relative to how the market has been performing, you never really know when the downtrend is going to stop and the uptrend will resume. You don't want to get caught selling at the bottom and end up chasing it as it goes back up. I always like to keep some money outside of the market for situations like this so that I am able to take advantage of the dip and buy more if I failed to sell at the top.

Good luck out there everyone!

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