The PBOC certainly throw a good red party when they have the mind to. Crypto market cap down from $180 billion to $138 Billion in a matter of days. So what better tune to listen to than Bob Dylan's Blood on the Tracks ....
Shelter from the Storm
I am not going to give you shelter from the storm, but would certainly like to put some things in perspective in this supposedly trying times on the crypto market
Let us have a look at the last two year timelines and prices for some major currencies and assets.
September 06 2015
- Litecoin (LTC) $2.99
- Ethereum $1.35
- Dash $2.52
- Bitcoin $238.35
September 04 2016
- Litecoin (LTC) $3.92 ( +33%)
- Ethereum $11.63 (+820%)
- Dash $10.98 ( +500%)
- Bitcoin $599.00 (+280%)
September 03 2017
- Litecoin (LTC) $79.96 ( +2030% )
- Ethereum $353.00 ( +3030%)
- Dash $360.83 (+3286%)
- Bitcoin $4632.00 (+860%)
Before an OCD person jumps down my throat, those are rough percentages worked out in my head ... but the following still holds true..
Litecoin from $2.99 to $79 in two years, Ethereum from $3.92 to $353 in two years, Dash from $2.52 to $361 in two years. And we all know where BTC is
Crypto markets are still very manipulable by 'whales' and new developments in legislation. In my opinions the authorities are starting to get the idea that this is not a passing craze, and they are wanting to get control before the ship leaves the harbour.
This is not investment advice but I reckon the best strategy for the major coins is HODL, and buy the turmoil.
Thanks for reading!!