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RE: Crypto is down today. While it is not fun, this is normal.

in #bitcoin7 years ago

You may wonder why price goes down so drastically and fast in all the exchanges like a coordinated action. You're right. It most probably is coordinated. 100billion market could easily be swayed by some fund. A sign or some jargon over a dinner would kick start the whole thing. There are many tricks at hands to move the market as with the stock market. AMZN has gone up more than 100 times its introduction price but few have kept it all the way up. People are easily rocked and cash out due to market tricks. Such huge sway is just a sign of institutional entrance which want grab the coins in your hand. A coin may have been traded many times in a session to drag down the price. So Keep your coins in your Wallet so nobody could use them to dump its value/price. This is always my recommendation to all bitcion holders. This is the best way to preserve its value. Download a good wallet, store the coins in it and put the hard disk in a safe. Remember there are just 21million coins. It's really an scars asset.

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Good points you make!
Perhaps we just learn by theses huge swings and if the next high hits, we switch some of our profits in Fiat and sit it out for the next attack to profit from it.
The question is only when and not to enter too early.
Otherwise longterm hodling or better investments in quality coins (Dash, Steem, Sia, Waves, Iconomi, Ripple and probably Tezos) is a good strategy as well.

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