If you’ve invested in crypto’s and checked your charts this afternoon, you may have had a shock as approx $30bn left the crypto market leaving a sea of red in it’s wake.
Yes, it was a little shocking to see and a little disappointing to only have a profit of 25% (what we would dream of for 25% profits in forex within the first week of the year!)
What caused this huge fall in the Crypto market?
For me, I wasn’t too concerned. Disappointed yes, but not concerned enough to take action and cut my losses (or take my 25%ish profits!)
Fortunately, I’m part of an amazing online supportive group of fellow crypto traders and they helped me keep faith in the investments.
This amazing bunch said to stand my ground and hold. These markets are volatile and these big drops will come before a big climb again.
And then the news broke! An exchange had taken the Korean currency off it’s charts due to the Korean currency raising by 30%… what this meant was the charts “appeared” to drop dramatically and as more people sold their cryptos (as people do when they see a sharp drop) then the prices dropped more and more and more…
Until $100b left the market.
And then the news circulated and people panicked again! They’d left for the wrong reasons and came back, piling in their money again! Apparently, the market shot up $50b in half an hour!
Me? I saw this as an opportunity to throw in extra funds… not much but I managed to throw £500 into Coinbase (paying £20 in fees for an instant transfer! Eurghhhh)
I whipped Litecoin over to Binance to invest further into more ADA, POE, IOT and NEO.
Litecoin has been the quickest transfer of days, but I was watching the charts fly back up whilst waiting for LTC to be verified on the network!
Even so, I managed to obtain more coins at a great price to hold long term.
I mistakenly bought ADA twice, and missed IOT, but oh well, there’s further opportunities and Cardano ADA has big possibilities.
NEO and POE were obtained also.
Looking forward to seeing these climb over the coming few days.
Thanks to the guys of the RT Crypto Group for keeping me strong!
Interested in joining the group and learning how to invest in Crypto Currencies?
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I am not a financial expert and the opinions in this page are my personal opinions only. There is no guarantee that any opinions are truth or be future predictions.
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