Cryptocurrency blood bath... My thoughts

in #cryptocurrency7 years ago

Hello all... Just wanted to post my thoughts on all that is going on in the crypto world.

So about 4 weeks ago I blogged on how I just didn't like what I was seeing with Ethereum. I had the majority of my position into Ethereum & pulled it. While I pulled it, I just flat out pulled all my shares on everything. Turned out to be a great move. Today Ethereum is tanking @ $137usd on Gdax at the moment. Time I pulled funds Ethereum was @ $388.

Anyway I really feel like this whole correction thing was needed & is a very good thing. It will shake out these wanna be day traders & stop Gdax from crashing (hopefully).

I really feel the like the market cap is gonna goto as low as $47 billion in the (July 29th to Aug 4th range). I plan on buying back in around the low 50 billion dollar range. I feel bad for all those college kids that put their student loan money into this when the cap was 100+ billion.

I really believe in EOS & I bought a nice chuck @ $2.21 pre-mature & that is turning out to be a mistake. I plan on buying some today in the low $1 range to help out my avg. You live in learn, but excited for the 1st of the month. What a shit storm this month has been. Have faith in tech! Free up cash & buy in when others are afraid & you'll never regret it!

Good luck everyone!
I'll be picking up some Steem, EOS, Stratis, Antshares, & Litecoin today =)

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Nice post. I think the long-term trend will be upward.

😔😔 I'm poor to invest so using steemit to make some money

Gotta start somewhere. If I was from a 3rd wold country i'd be on steem trying to make money as well. I respect the hustle, always.

Possibly more still to come, depending on how bitcoin issues are resolved. I meant to liquidate more of my positions a week ago but never got around to it. Cursing myself now but never mind. I've held through far worse drops (percentage wise) than this and I still believe, so let's hope things are resolved quickly in august

Agreed... I just don't like how they're leaving a lot of people in the dark & nervous. Making a ton of market money leave that doesn't need to, but everything is by design in my opinion, so they're letting it go like this for a reason. I'm guessing to flush out the weak guys with their lunch money tied up in this thing.