Last time this happened, a lot of investors joined in and we had about a 20% overall correction. It is important to remember that this sort of volatility needs to be expected in an emerging market.
Our entire crypto-economy does not even come close to the value of the largest companies in the world - let alone the largest economies in the world. Markets are relatively easy to manipulate for the big players in this space.
I am convinced that a devaluation of the overall market cap is a sign of profit taking. If your coin is at lows, it may be a good time to plan your buy orders. We could see another 5-10% retracement sending the overall market cap back to approximately $100b. So it may pay to hold some of your capital in case that happens.
It took about 48 hours for market confidence to be restored last time we had a correction. And always remember to do at least a quick scan for any new news before deciding to re-invest based on old research.
Stay stoked frothers,
I'm off for a surf now. Will check in later. Yewww!