I think today many woke up and thought about what is happening in the cryptouniverse. For me it was some dark morning with 25% loss in my whole portfolio. To be sure, i did not expect this, so i did not sell any of my coins, I'm just holding them.
Ofcourse we question ourselfes now, if we should invest more money into crypto in this days. Now i want to give you some short update about my opinion.
First it's important to see, what is happening with the marketcapital. Take a look on coinmarketcap:
As you can see we are back on the 78 billion market cap, down from the 114 billion peak. This 78 billions USD are around 68,42 % of the peak volume, what means we had some fall in marketcapital from about 31,5 %.
For me this is really important to look, because i observed that if capital is leaving the market, ofcourse the prices go down, but specially the altcoins, while you can see the bitcoin dominance is growing, because investors want to , keep their money safe'. So far bitcoin is the most established cryptocurrency, they are switching the capital into.
Now let us get more detailed and look into the main market.
As we can see the whole market is dropping, according to the drop of the marketcap. As usual the Bitcoin is the most stable currency with -8,49%. While we are around 2300$ I'm not sure about how this will going on. If you look on the history a way bigger drop could wait. I will give some prediction about this, if the bitcoin will go under the 2000$ mark. That could be some really interesting point..
Ethereum gone below the 200$ to 186$, means a drop from about -22,97%. Also Ripple, Litecoin, ETC and Dash dropped by ~ -20%. We can see this in the whole top 50 market, nearly to in every cryptocurrency.
Ofcourse, while we are on Steemit, we will talk about Steem, which hit some pricelevel under 1 USD!!!!! 0.90 USD on coinmarketcap, means a drop of -36% . This means we reached the level from may, when i was reading the first time about steemit.
Ofcourse I'm not sure about the future moving of the steem chart, but i think this social network has huge potential, even 2 USD is really undervalued in my opinion. I would even say the whole market is still undervalued, bitcoin included. For me it's some good opportunity to buy into the market and get more steem and other currency like Stratis/ Lisk and Waves.
It's possible, that the drop continues, so you should not buy in with 100%. Go step by step and invest only money, you an afford to lose. We're still in the early adopting phase, what brings us high votality to the whole market.
I guess if you sell your Steem today you will cry in a few weeks/months. If you buy more and hold them, you will drive the better way. I guess so.
So dont cry, dont become panic, just wait, hold your coins, buy step by step in and increase your value, until your day comes.
,,If there is blood in the air, there is money on the street!''
