All Cryptocurrencies Are Going Down - Here's Why!
It's all red. Everything has dropped from 10 to 30 percent. The biggest loser being Ethereum about which we talked yesterday.
Yet, why is everything going down? Well, the answer is simple. When Bitcoin goes down it brings everything down, because all cryptocurrencies are being traded in BTC.
Though the big question is how far will it go down?
Well, the first support line is at $2270, which is very close and I would guess there are only 20% chance for it to break mainly because there is no major news about BTC, on the contrary, there is more news about the solution to the scaling issue that should drive the price up.
Now, on a very unlikely event of Bitcoin breaking the first support line, it could go down to the second support line which is at $1855. I can't imagine it going so far in correction mode without any news, but that would be a major signal to buy.
I'm closely following the BTC price and if it goes low enough I'm thinking of buying myself some.
Steem, even though was holding up at $2 for a very long time and even went above after the HF19, but still got hit a lot by the whole market going down. It shouldn't go any lower than it's now, but if it did I would definitely rush to buy me some.
I see this as a really great opportunity to buy some cryptocurrencies that you were delaying to invest to because now is the perfect time when everything is down.
What do you think about the current state of the market?
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by liudasbutkus from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
Congratulations @liudasbutkus! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!