Brief Market Update — What Is Happening?
There is no real reason for any concern; no significant vulnerability or flaw in crypto or the underlying system has recently been discovered.
Take a step back and look at the bigger picture — when we started the CRYPTO20 ICO the total cryptocurrency market cap was only $150bn. It is now still approx. $350bn. This kind of relative gain would take a decade on the stock market.
Corrections are healthy, and double-digit week-on-week gains are not sustainable in the long run.
So why is this happening?
During the recent bull-run many individuals purchased cryptocurrency with funds they borrowed or need to sustain their standard of living. Speculating with critical or borrowed funds is not a wise investment decision. Repayments need to be made and rent needs to be paid — these holders will sell, even at a loss, in order to be able to meet their financial commitments.
For those who invested with only what they were prepared to lose — there is no need to panic sell.
Remember that for every trade there is a counterparty — for every sale executed now someone is buying. The smart money is just waiting for the bottom, and if you’re giving them cheaper and cheaper tokens, they will not complain.
Kind regards,
Daniel Schwartzkopff
CEO & Founder, CRYPTO20
Disclaimer: The opinion expressed above does not constitute investment advice.
https://medium.crypto20.com/brief-market-update-what-is-happening-f69972fc9329
Thanks for this words....
Great Team
Great Work
Great Project
thumbs up!!!!!
