Hey there !
Today im going to talk a little bit of the DIP that occur few days ago.
It's been a crazy days in cryptocurrency market !
If you follow the cryptocurrency world you feel it too!
Here's a little image about it. As you can see the market decreased a lot !
My thoughts? There are lots of things happen in last week, Coin Market Cap removed Korean exchanges from their coin price calculations and being that all coins are about 30% pricier over there, it instantly tanked the price on CMC graphs.
Because of this news many investor find themselves in trouble because they were started thinking in future cryptocurrency will banned all over world, so many investor cash out their invested money and this will be the expected reason for cryptocurrency crash.
And it's a snowball, like this:
Many newbies ( like me, but i prefer not accepting the loss and hodl), see their investment going down, and take the loss. See, many people came to the crypto world because media publish news like "Bitcoin grow 50% in 1 week" or "Teenager became millionaire because of cryptocurrency" and many people invest their money without knowing what they're really supporting, then happens a dip and this people leave the market, taking loss.
I'm not a pro investor, and i'm far from being, but from what i learn you should "buy low, sell high" and in times like this just HODL !
In conclusion, the market should stabilize in the next few days, or grow a little bit and then fall again making a "dead cat bounce pattern. If you want to know more about this just check this link!
What do you think that happened? Leave you feedback !