Cryptocurrency Market Crashing More Day By Day !!
Hello dear steemit friends,
The starting of this year is quite awesome for all the cryptocurrencies and they break many records and gain a huge amount of attention of people but this market not able to maintain that charm now and loosing it's value each and every day from last 2-3 months,
The value of many cryptocurrencies is going down and looks like they can't handle the selling pressure,
This kind of situation is also very risky if you are a regular/daily trader Because this time is very less predictable and the more chances of you to loose your money instead of gain good profits,
But it look like the mother of all cryptocurrencies"BITCOIN" is totally unaffected with this market situation and still rising day by day and reached $4800 today and still increasing.
I don't know when this panic situation is finally going to over but right now please avoid trading and only buy a cryptocurrency if you want to invest in it for a long term.
THANKS FOR READING !!
Your UPVOTES And RESTEEM Are Always Welcome Friends :)
Follow me :- @thecrytotrader
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Thanks.
Long term investors paradise.
Bought myself a bit more steem last night....as Buffet says, it is on sale.
I was just writing how I foresee a 10 fold increase in the market cap of cryptos over the next few years as the uses of the blockchain actually go into effect. This means that anyone buying here will most likely be very happy.
Of course, be mindful of what you buy since there is a lot of garbage out there.
I look for the post Bitcoin Gold fork as the time when things will settle down.
Yup i agree with you buddy and you are right that their are a lot of garbage coins with no good technology behind them,so as a invester we have to take each and every step carefully :)
One question for you @thecrytotrader....do you think most people are even aware that there is a technology behind these coins?
I have a feeling most simply are caught up in the hype without understanding the fundamentals of the blockchain in general let alone as it applies to the coin they are buying.
Yup you got the right point, Because most of the buyer of cryptocurrencies doesn't even know about the technology or work for that the particular cryptocurrency Created and does this technology is needed by the market or not,most of the people just see a big rise in a currency and put their money straight into that cryptocurrency without any research.
buy the dips - no such thing as easy money - you can't beat the market - just play the 20 year game and your golden - i think everything will begin recovery after oct
Ya but choose your coins wisely for that 20 year game ;)
That is good advise for the traders- short term profit is not viable currently. Now is a good time to invest in promising coins such as steem, EOS, bitshares,litecoin, monero etc as their prices will increase in the long term
Yup and we also have to select long term coins with full research :)
That's a great analysis. However I feel that it is the time to buy some additional currencies and keep it on the pocket for long term. But again invest only that much which
Yup