My Stomach
GOOD AFTERNOON STEEMIT,
Things might look pretty shit on your account right now, but you need to relax, smile and take a step back while listening to the voice of reason.
NOTHING HAS FUNDAMENTALLY CHANGED SINCE YESTERDAY. Nothing at all. No bans, no hacks, no regulatory strangle. Nothing!
I have seen explications for the drop going around like ‘Asian holidays, January sells off every year, Korean ban, China ban etc etc, but in my opinion this was purely technical and driven by king Bitcoin. Take a look at the chart:
BTC/USD Daily
That’s just a trend line break, followed by stops being triggered and panic setting into a market void of true institutional money (yet). It’s rational and measured. Relax.
Now take a look at Ripple. Do you remember when I asked if you were complaining that you missed the dip in Ripple? We’ll check out where today’s supposed irrational, panic fuelled drop just happened to stop:
RIPPLE/USD Daily
Can you really call that sort of technical respect irrational or panic fuelled? They’re just clear previous resistance levels being retested as support in a rip roaring bull market.
I bought the first level of support in Ripple and I’m going to also be buying the second. Ripple is still a solid project with its non traditional banking links actually acting as an intelligent hedge for the rest of my portfolio.
Nothing at all has changed. Nothing. Do not get caught up in the hype. Listen to your voice of reason and make the right call for you.
Have a great day!
Peace ✌🏻.
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