I wrote a blog about how quiet the market was. Luckily, steemit didn't want to post it because yesterday was a blood bath.
General dip of the market. 200 billions dollars destroyed. -35% for my portfolio. I have to confess: I panicked a little bit.
What to do? Because for once, no obvious catalyst to explain this correction. So, I put a list of all the possible explanations and you tell me which one you think is the best.
Regarding my trading, I bought some Bitcoin at 11k usd (first time since October) and some Stellar (my favourite token at the moment and totally destroy because of its relationship with Ripple).
List of possible explanations:
1/ correction due to the possible regulations in South Korea and China
2/ Chinese New Year. People are taking profits in order to buy gifts and visit their family.
3/ Metropolitan trust Bank, one of the few banks to accept the crypto business might have decided to stop their relationship with the cryptoworld because of some KYC issues. It's the bank of Coinbase.
4/ one of the key analysts at JP Morgan said the US is going to regulate the cryptotrading.
5/ end the bitconnect and the Ponzi scheme
6/ maturity of the first cash settled future on Bitcoin.
A lot a (bad) news/rumours for one day to stomach even for the cryptoworld.
Feel free to post comments to get your opinion (and click on the upvote button to help the motivation ;) )
Disclaimer: I'm not your financial advisor and these are not financial advise+it's just a diary.