RE: Crypto Markets drop on a weekend!! Why?
I am not an expert, so take my views with a grain of salt.
I think there are several reasons for it... Well, maybe none of these reasons seem that bad/troublesome but when all of them are put together in a span of one week... traders get scared.
- Ethereum flash crash
- Ethereum's scaling issues that were so clearly visible during ICOs
- ICO schemes controlling a lot of Ether
- Bitcoin's potential upcoming fork (again, potential)
There are just way too many reasons for uninformed traders to quit the market, but these are just my thoughts on it.
But the way I see it... Bears make money, Bulls make money, Pigs get slaughtered. I had bought 70% of my portfolio before the crash but I am looking I am buying the remaining 30% now lol. I wish I could have bought 100% of portfolio right now! xD
But there is blood on the street and there may just be a lot of blood for a while... HODLLLLLLL and believe in the tech! I am sure cryptocurrencies someday will be as common as credit cards and every penny you're investing will pay back! :)
Thanks for the reply, any information is good im learning a lot from comments like this. I intend to hodl for the long term with most of the coins i have. I also think that the tech behind some coins is life changing for many people especially the unbanked!