Brief Market Update — What Is Happening?
There is no real reason for any concern; no significant vulnerability or flaw in crypto or the underlying system has recently been discovered.
Take a step back and look at the bigger picture — when we started the CRYPTO20 ICO the total cryptocurrency market cap was only $150bn. It is now still approx. $350bn. This kind of relative gain would take a decade on the stock market.
Corrections are healthy, and double-digit week-on-week gains are not sustainable in the long run.
Market Update as of 2nd February 2018
So why is this happening?
During the recent bull-run many individuals purchased cryptocurrency with funds they borrowed or need to sustain their standard of living. Speculating with critical or borrowed funds is not a wise investment decision. Repayments need to be made and rent needs to be paid — these holders will sell, even at a loss, in order to be able to meet their financial commitments.
For those who invested with only what they were prepared to lose — there is no need to panic sell.
Remember that for every trade there is a counterparty — for every sale executed now someone is buying. The smart money is just waiting for the bottom, and if you’re giving them cheaper and cheaper tokens, they will not complain.
