All reds, No worries, Do not panic sell
Hold your crypto's. Do not panic sell. Red days are no big deal. All of us in crypto should know this by now. There have been a tone of articles in the last 24 hours about China cracking down on ICO's. This is fine. No big deal.
My take, is that China wants to cool the jets a little bit on all of these ICO's. Once they get a handle on some form of moderate regulation, ICO's will be allowed to resume. Just like they regulated exchanges to prevent all of the margin trading going on with Bitcoin. All of us know that anyone can whip out a white paper and throw together an ICO offering. There are a lot of fraud or weak ICO's out there. China just wants to bring some safety and reasonableness in the crypto industry. It is obvious that they support Crypto currencies and no longer want to transact using the U.S. Dollar.
We have a lot of newbies (noobie) in this industry. The sell off we are seeing is a combination of profit taking and weak knee selling. Remember, this industry is going only up and up. This will be a $100 Trillion Dollar industry within 5 years. Buy and hold. Build your portfolio. Time is on our side.
If you panic sell, guess who is buying at your loss? Whales and big institutional money. They love for us small peasants to panic and sell at a discount. These guys know where crypto is headed. They want to control the market. The only way they can succeed, is if we are week kneed and give in to emotion. Do not be an emotional trader, you will always lose. Be calm and use logic. This industry is huge. It is the future of money and commerce. Build your generational wealth now. Be strong and stay focused.
All of our balanced crypto portfolios will gain 300% to 1000% each year. The ups and downs of the market is healthy. It shows that this FinTech is alive and well. We breath in and out every second of each day. Well, so does crypto. Today it is exhaling and tomorrow or the next day it will breath in and expand. Don't be a newbie (noob). Relax and enjoy the ride. This is history in the making!
Hi jetblake,
Thanks for sharing
You are welcome
I agree now is the time to buy not sell in a few days or weeks we will see a nice uptick
This. "Once they get a handle on some form of moderate regulation, ICO's will be allowed to resume."
Its surprising how rough this measure is compared to their softer tones in the past though: https://www.bloomberg.com/news/articles/2017-09-04/top-investor-with-30-in-cash-says-north-korea-selloff-will-come
True. I am still being pretty neutral regarding this. It does not worry me at all. Plus, this has nothing to do with original crypto's like Bitcoin, Litecoin, Ethereum and other non ICO. They should not be selling off unless people are profit taking
True that. But, as of now, I think the price will sunk to a good low margin. And, with regulations coming up, will skyrocket again.
https://steemit.com/colorchallenge/@isteemithard/crypto-colorchallenge-mondayred-the-crypto-market-is-having-a-red-day