Sell off Or pullback
Last two days have been rough, with South Korea ministry saying they were going to outlaw cyrptocurrency, and Coinbase increasing the withdraw limit to 100,000. A lot of reasons to be selling, but has anything changed fundamentally? The Finance Ministry has a couple reasons for this, 1 they really think this is a danger to its people, 2 they want to create a buying opportunity for themselves, 3 they are tired of North Korea hacking them, 4 they are scared they are losing control, and 5 they don't understand it. Any of these reasons could be true, but if they ban it there, won't the exchanges just move. That is what happened when the Great Country of China banned it, and they respect all human rights there.
Time to move the exchanges, but one thing I don't think people have taken in to consideration, the limits on Coinbase. Right now most exchanges are not accepting new accounts, but have raised the buy and sell limits. Think about it, these products have gone sky high, and they only allowed 10k a week to fiat, people became millionaires, and would take years to get out. Now you opened a bigger door, and I think a lot have been profit taking.
This is just a pull back and some weak knees from new players.....we have all seen this before, this entire market is about to explode.
Ya I hope it stays here a bit, I want to load up, and then ride this to the moon.
You're right @broncnutz...
PS: I love crypto too, but I'm new to this.
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Thanks for the correction. My bad. Edited the comment already.
Thank you for posting @bigram13
As you said
I think this will stay for at least a week or so on until some big positive news don't come in the crypto space the big players and big countries just keep playing this market by just Big and Bold statement's just like Jp Morgan did a while back and the banning of china as you mentioned in your post they just want to fulfill their bags as they can't control this decentralized system so they spread all the F.U.D ( Fear, uncertainty and doubt ) among the people and those who are very new to the field gets in panic and sell
Every big exchange should move out to a place or a country which has regulated the cryptocurriences so that they can operate without any restriction the system put on them on the other hand increasing the limit will definitely help the big people to take out more profit out of the system for sure !!
Thanks for sharing this post i appreciate it have a great day ahead.
All the best. Cheers.
I hope I’m right but it’s still ridiculously early. Of course lots of people have known about crypto for a while but I’d say thanksgiving weekend 2017 was when it really exploded and everyone started sharing how much money they’ve made and social media and all that. That’s only about 2-3 months since that’s happened. It’s just the beginning! :)
Ya, but at some point half of these things are going away, just like the internet bubble there is a explosion then a implosion then they go up again.
Definitely agree with you there. You see the % of ICO's that are being made every single day. 90 % of them are garbage so of course there will be a good chunk that will disappear in a few years once there funding is gone, and hopefully the ones with real plans will stay and grow! Example Steemit :D
Ya, I hope we are in the right one for sure.
Thanks for the sharing on this articles.
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The suppression is so obvious lately as with more kyc requirements along with some ico's only allowing "accredited investors" like they give a flying !@#$ about the common person.
Ya, there is always ulterior motives
I pick this one. They are too smart not to understand it.
I think 2.options 2 they want to create a buying opportunity for themselves @bigram13
seems i miss the info about the South Korean news, no wonder prices plunge a bit. that is a very good explanation tough.
i am holding some other small coins also, and coinsmarket.com has down for a few days, the place where i store my coins. LOL
Ya, that is a huge risk right now. The darn exchanges
Hey! @bigram13 Just upvoted and resteemed! I love crypto as well as cars...
Can you follow me too. Thanks