Couple days ago we had a bigo price drop. As I noticed, when old dude Bitcoin drops, it pulls the whole family down. My favorite Ethereum dropped about 200$ bucks down, baby coin Litecoin went almost twice down. The whole picture of my profit became pretty sad. I still didnt loose my principal and even had extra few hundreds on the top, but seeing my balance shrinking twice was a bit unpleasant of a surprise. I was sipping coffee in my downstairs cafe, and checking news. Press was screaming stuff like this, and my messenger started going crazy with peeps who assumed that I am a tarot reader, and sending me various morning greetings starting from nice "have you heard...." to "hey, what a hell? did you see Bitcoin price?". I wish I had a crystal ball and give you guys a good jumpstart. But I dont, and the only thing I use is the logic. Woman logic. So, my logic tells me that a) dont panic, b) dont panic, c) dont sell now, its too late.
Ok dear investors, let me respond your concern here. If you got the money projecting on your horizon and there are end-of-the-year holidays (and you need money), will you want some extra cash? I bet you do, so you go ahead and sell your coins for twice of a money. Now, lets add big corporations to this list, who bought big chunks of crypto before and now closing the year for taxes purposes and going to vacation. They sell loads as well. So, when you load trucks of fish to the marketplace, the price will drop due to oversupply. This is as easy as 2+2. So if this all happened to take place at the same time, when someone dropped the load to the market, we expect the market to lower the prices! And this is not any different than traditional stock market works, so why wonder and panic about normal flow? Relax, calm down and buy more while it went cheap! I did, btw. Got few litecoins and ethereums. Cheaper is better for me, as I knew such a nice price wont last long. And it didnt actually...And I didnt need crystal ball. As of today, we see prices crawling up, because apparently I was not alone to take an advantage of attractive offers. There were lots of us, who grabbed some coins for cheap and now sitting on them like chicken on the nest waiting till they become golden chicks.
I hope everyone took an advantage of the drop, and my crystall ball saying me that we will see good good 2018! woohooo!