New traders watch things spike. Everyone knows what to do. When things fall, they panic. Do not panic.
About 4 months ago (Sep 2017), I wrote a similar post - let me keep it simple:
China announced it was going shut down Chinese exchanges like this OLD news article dated September 2017
Well China basically chased HUOBI, a chinese exchange, and all the money it had out of their country. That wasn't smart, because now that money just went to the USA instead.. according to this news article:
https://www.coindesk.com/bitcoin-exchange-huobi-open-us-office/
The market will adapt. China could have kept all that money in their country and instead they shot themselves in the foot.
Now we have newer news that Korea and India are going regulate cryptocurrency in their country and everyone panicked. Bitconnect partially shut down, Tether and USDT are having issues.
More doom and gloom right?
Actually both India and Korean news was exaggerated. Korea fixed what they said see here and India fixed what they said too see here
...history is repeating itself.. and you know what... the market will adapt again.
The same thing holds true today, as it did September 2017. Actually nothing has changed.
...
Everyone rode the huge bitcoin price spike up to $19,500 and no one seemed to have any questions. It was good news and people were dancing and partying as prices were green and always going up to new highs.
..
Real investors were concerned when no one else was...
..
So in the last little while, we saw Bitcoin go down to a low to right now ($9156) as I write this...
Can it go lower? YES
Can it go higher? YES
....well that isn't very helpful what is the point of the post?
- Sep 2015 Bitcoin: $239 USD
- Sep 2016 Bitcoin: $596 USD
- Sep 2017 Bitcoin: $3700 USD
- Sep 2018 Bitcoin: ...what do you think... ?
With every great drop, and correction, so far it seems Bitcoin (and other cryptocurrencies) can show yearly improvements again.
Like any investment when you look at the LONG trends, you start to see a pattern. Each year Bitcoin seems to be worth more than the previous year.
I'm not worried, are you?
Are planning to sell 100% of everything before September 2018? Time and history shows every year Bitcoin does bettter than the year before. That's just my opinion, and I'm free to have one. Do not take this as investment advice though, I am not an expert. :)