Crypto Crashing "Correction"

The price of the two main players, Bitcoin & Ethereum have crashed again, with this follows a massive price reduction in most of the Altcoins.

Is this a bad thing or a great time to buy?

The overall crypto market cap has enjoyed a massive rise in the last few months, rising to an astounding high of over £100 billion.

Yesterday saw this high crash to a low of $93 billion with Bitcoin holding a 43.9% dominance over the market at £41 billion. Ethereum in second place with a total cap of $23.7 billion.

Recently we saw a flash crash; which saw Ethereum drop earthwards in a spectacular fashion. This caused many exchanges to temporarily stop trading Ether. GDAX Exchange saw a multi-million dollar sell order triggered which saw many investors losing massively. GDAX have since said that they would reimburse all losses. Credit to GDAX, owned by CoinBase.

This has now resulted in Kracken Exchange being the subject of a class action law suit.

The crash in part, seems to be a massive market correction, which some commentators said was on the cards. The high returns that seemed to be on offer have seen many new entrants to the market whom may have left just as quickly. Possibly portfolio rebalancing playing a part.

For me, I would seriously consider buying up some of the better investments whilst they are at this low price. A few months from now we will probably be looking back on today and seeing the opportunity that we grabbed or missed. Time will tell.

All Coins Be Like Now 😁

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