Homeroom - End of Month Alt Coin Plummet
Home Room
You all remember it, and I want to bring it back in the form of a quick morning blog about various topics. Sponsered by your host @cryptoknight12, so please follow to enjoy a quick morning read... we'll see how long this last!
now for today's first topic...
Yesterday's Crazy Alt Coin Swings!
What the heck was up with that right? Like friday I was buying alt coins up like crazy...
Because unlike most days I had so much to do!
To my demise, I finally looked at the ole poloniex and what did I find... all my coins were tanking!!
but did it stop... oh no
Monday morning the bloodbath continued on
So what happened?
My theory is the end of the month must have coincided with, take a look at the chart I drew on Paint...
This is your answer
All the google searching you don't won't tell you this, but it's obvious right? So what did we learn? Mark your calendar 5 days before end of the month and turn all your alt coins into the coins that don't drop, ie XRP, ETC or BTC. I would advice bitcoin, buts that's just my opinion.
I think this case is officially closed..
Well done in just a few words
Totally solved the equation on alt coin pricing.
Time to retire
STEEM On !!
Dave
I really like your post. Upvoted and followed!
All the best... :-)
Thank you, more to come! :)
check my analysis .. what do you think
LOVE IT! You have a great sense of humor!
Thank you @lukigrl ... I try!! :)
That is an interesting theory, but I think its much deeper than the end of the month. The recent plummet has more to do with the entire US economy. I posted an article early explaining my theories as well.
In addition to my post, I think a lot of people are making money off crypto and using that extra cash to finance some new toys. maybe the payments were due and they had to cash out! Also, I think a lot of Ether was used for ICO funding which is not shown on the chart I used. Thanks for the comment!