Reasons Behind the Crash - What's Driving It? - Crypto Happy Hour

in cryptocurrency •  10 months ago

The crypto markets are getting absolutely SMOKED right now, and many people are blaming things like China, lack of Bitcoin adoption, US regulation and more. Let's talk about what the heck is happening right now, how I'm approaching it, and all of your Q&A.

Don't worry, it's still crypto happy hour in my book! Hey, it's 5pm somewhere in the crypto world right?

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Literally could tell how activity on Steemit is down right now since people aren't motivated by high prices lol.

Hopefully a bounce for Steem is near, will be a bit bummed if it goes back under $3

Watching with a big glass of wine @cruptobobby!

I think it pays to take a long-term perspective. Maybe if someone was planning to get-rich-quick by the end of 2018, the recent downturn in crypto is very distressing. But I think this might actually be a great buying opportunity - at least, for Steem. I've only been on Steemit for just over 2 weeks, and I've seen prices fall by, like, 50%. I view that as a real opportunity to scoop up cheap assets at bargain-basement prices.

I am still watching the market. In every condition the market is right, maybe it want to eliminate the fearful trader.

I'll love to expound on the benefits of Bitcoin and the huge monetary problems it aims to address, but truth is, in my lame opinion, being only a store of value will not cut it for the big guy (BTC). It has to be more and do much more. It has to displace its competitors (alts) as a currency, at least for transactions in the cryptospace, and maybe render the need for privacy coins irrelevant to succeed. From now on, the argument that BTC is the first and bla bla will not be the best to convince new investors especially with its high volatility and ease of market manipulations it possesses. I am still bullish from a technological point of view though. Heck, I still have BTC in my portfolio albeit a much smaller percentage from last year. The huge whales and investors have come and gone, and we are left with the mess they left behind. Crypto will depend on the success of BTC to move forward, and BTC on its part will have to prove it is worth investing in to attract public confidence and adoption from henceforth.

Yeah with banks trying to block folks from investing, there's a lot of reasons it's dropping now. For every problem, there's a solution though so I think HODL still stands.

Eth pyramids lol

Look at all the ETH!!!