Relax! YES it's a correction, NO it is not the end of Cryptos

Dear Steemians,

All of us have to calm down and stay zen. The current correction is just the beginning of a short term correction that will make the crypto world better. The crazyness and hype in the last few months is not healthy.

Yes Cryptos and Blockchain technologies are going to change our lives. No, it cannot double its value every week without mass market adoption**

Yesterday, I wrote a post "Reasons why I am currently shorting Cryptocurrencies"; the main reasons were the following:

The Crypto Market is not going to explode but there are a few signs that it is overheating:

• Mainstream finance is pooring into Cryptos (HedgeFunds, VCs...).Guess what HedgeFunds love? Shorting assets they believe are overvalued

• There are some great ICOs projects out-there but let's be honest we also have a lot more scams that there used to be. The first picture of my post explain why I think this is not sustainable. Everybody understood that making a low quality ICO or even a Ponzi Scheme was easy, not too risky and could raise dozens of million. Therefore, the number of projects increased dramatically and their average quality was also lower.

• Celebrities (Paris Hilton, Floyd Mayweather) are now investing and tweeting about cryptocurrencies? It reminds me of this old quote "When the taxi driver is talking about the stock market, you know it’s time to sell."

• Chinese regulating ICOs will make raising money through these vehicles more difficult, in addition, it will probably push other regulators (SEC...) to regulate them also. Imagine if there is a huge crash and Americans or British lose all their investment due to scam ICOs. Media will prosecute the government for the lack of regulations/controls compared to the Chinese. Politically, this is not acceptable.
  https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html

Please take a few minutes to look at these videos, you won't regret it.

Coinbase Co-founder Fred Ehrsam break silence on Bitcoin, Ethereum and Litecoin future on platform!

He is developping why we have such volatility that helps the CryptoMarket overall with Hype/Boom paterns.

"This sort of Boom/ Hype cycles draw more people in, more investors, more talent and even if there is a bust you arrived at a subsequently higher baseline that when you went in; and the cycle kind of repeats itself as a self-fulfilling prophecy."

The Bitcoin Oracle explains why he sold off his Bitcoins by Vinny Lingham, CIVIC Co-funder & CEO.