You woke up one morning open your browser to coinmarketcap to check your coins and you see the whole page RED!
The last days about 20 billion $ has left crypto market.
People’s Bank of China, the central bank of the country, has officially declared initial coin offerings (ICOs) as an illegal method of raising money. In an official statement, the PBoC announced that organizations and individuals are no longer permitted to conduct ICO campaigns and token sales.
CnLedger, a local bitcoin and cryptocurrency news source, wrote:
“PBoC bans ICOs. From now on, no organizations and persons in China are allowed to raise funds via ICOs. Fund-raising platforms are not allowed to provide trading and exchange services. Raised funds should be ‘cleared up’ and refunded to protect investors.”
China's ICO ban had a huge inpact on the market thats why we see all coins going down and down.
So many will think that indeed cryptocurrency was a bubble and start to pop but NO. It's the market and this is how it works.
Major things happend with China so the people started to fear about their digital money and started to cash them out and pull them from the market. That's why the number of the sellers was too big compare to the number of the buyers as a result the prices will go down a lot.
Now what? Is it going down more? Should i sell all my coins just for even a bit profit now before it goes down more?
No!! The only thing you must not do now is to sell because it is going to be a big lose...
My option is to hold even buy more coins at these prices to profit in a long term... Patience is the best player here.
Agreed. Its the classic sell high, buy low. Good time to buy.
Congratulations @deathi! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPthose ICOS tho
Congratulations @deathi! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPThis post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond Please consider upvoting this comment as this project is supported only by your upvotes!
Congratulations @deathi! You have received a personal award!
Click on the badge to view your Board of Honor.