EVERY COIN I OWN TURNING RED?! Is this the GNOSIS-effect?!
I was just watching my portfolio and then suddenly… EVERY COIN I own was turning red! The profit I gathered past few weeks was disappearing in just seconds… How could this be?! I was thinking by myself ‘What the **** is happening’?!
Every second was a second of losing… Until the moment it start to rise again… I thought by myself 'Now I Know how the people owning stocks felt back in 2008'… Then I started to look for the answer why this did happen… I found out it could be because of Poloniex and Bittrex started to sell the hyped and wanted “Gnosis”-coin and a lot of people start to sell some of their other coins to get some GNO…
On Bittrex u can see people are asking 5 3(edit, misspelled) BTC for just one GNO... Wow... Is this worth it?
Okay, let’s be clear: I like their idea of a prediction market, it is a good idea! But isn’t this all just a little too much of a “HYPE”? Is it a good idea to try to buy some gnosis now? Or is it a good time to buy some other coins (which I believe them to have a good concept) who just got dumped because of this? PIVX did go back to $ 1,60 and Expense is back under $ 1, even Ethereum and Dash did lose some of their value! What will you do? Buy some GNO or buy some other coins now they are a lidl bit cheaper? Let me know in the comments!
Images sources:
- Cryptocompare.com - portfolio (not my real one, made one, just to show price drop)
- Poloniex.com
- Bittrex.com
- Gnosis.pm
(Sorry for my DUNGLISH, the English from a Dutch-speaking person)
Interesting blog. Same mindset here. The biggest group of uneducated investors in mankind get's a shot to determine the price of a crypto. It's an interesting world we live in. Personally I always use: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market. See: https://www.coincheckup.com/coins/Gnosis#analysis To watch Gnosis Investment research.
It's part GNO, and part Bitcoin reaching $1460. The prices for GNO today are just dumb.
Oh okay, so people want Bitcoin again cause it keeps on going up? i think a correction was welcome at the moment for a lot of altcoins aswel :-)
Ah, is that why the prices tanked today!!
I guess it is! I have no clue what else it could be... :D
I would imagine that when the markets are heavily moved by the traders and the traders are getting larger and larger, then there will naturally be more volatility. The traders are chasing the 'hot' coin(s). So that creates the extreme movements. The point should be to know or understand when something has really changed to make the traders not want to get back in later (to continue the long term uptrend).
It is definitely tough to watch and stomach these big downs, but the good thing is that more money is continually going into crypto's overall and that keeps the uptrend going for most coins (long term).
Thanks for youre insights! And with traders you mean People buying and selling just for Profit, right?