As expected, the correction came and it came out with a bang. Bitcoin lost $6000 in just a few days and there aren't any clear symptoms for what may have cause this drop, other than sheer sell pressure. Of course, there is a rumors machine going on in the background, but none of them are checking at the moment (like the vulnerabilities in South Korean exchanges and so on). It just seems that people are selling out.
Profit taking is part of the game and what may have started like a profit taking operation probably spiraled down out of control. We live in unregulated markets. The spikes and dives are way higher than in a regulated context, so nothing unusual here.
The only top 10 currency showing gains is Ripple, with an outstanding 32%. This may tell that investors are lowering their risks and choose "serious" assets. All speculation, obviously, because the rest of the tokens showing various increases are not involved in "institutional money" at all. Including the 100th place token, HempCoin, which shows an outstanding 77% increase.
After playing with the $4 level, STEEM is currently trading at $3.15, but the loss is mostly due to Bitcoin devalorization in USD. It looks like STEEM lost almost 18%, but compared with Bitcoin it only lost 10%. Yesterday it was hovering at 24k satoshis and now it's at 21.6k satoshis.
SBD is trading at $11.08.
Rewards split is: 76.05% SBD and 23.95% Steem Power.
Remember, market is always right.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Now, there is another good tome to buy. Maybe people are selling their cryptos to buy Christmas presents :)
the market is always right.
those who try to regulate it
are wrong.
You can say that again. And again. And again :)
Now the big question is.
how long will it last?
My take is that it will last at least until it ends...
I would hope so.
other wise that would cause the same effect as crossing the streams
..
and then again ? ... :-)
:))))
It’s healthy to have corrections.
Vertcoin withstood the storm and gained on Bitcoin:
https://steemit.com/cryptocurrency/@xsid/vertcoin-rising
Thnk you sir for your kind inforation
with the deeply connection of ripple and btc specially in case of btc down i seen many time when btc was down then always ripple rise up
didn't notice this coupling, to be honest. I only saw ripple growing last months.
I am bleeding as my transaction is not yet confirmed and Bitcoin is crashing...!!!
that too shall pass
All Will be well
this friday i mostly red and i afraid to come back of steem and sbd more bcz sbd is back down 14 to 11 hope these 2 coins dont come back more now sir
bcz ?
well information thanks for shearing
another red day but its ok, last weeks even shit coins all was super green
With a total market cap fluctuating all day yesterday between 580 and 630 bln within an hour I am suspecting some heavy manipulations by whales holding futures. This is a time to HODL and take positions if you ask me.
Should I buy some bitcoin ???
I am no professional and ask myself this every time when the coin is down, yes when you do not miss it. Is the answer I guess. But I find you can not change just a little bit...
I did say I wanted some coins on discount for Christmas :)))) (it's in the blockchain if anyone is curious)
never saw it coming
Thank you for the informative post!
the struggle is real
