I was up late last night when I checked the market and wish I hadn't, my goodness it was depressing at the time I checked Steem was at 0.99 cent the first time in a very long time that I've seen steem break under the dollar mark, bitcoin was on it's way down to $2300 and my own little investment, Litecoin was sitting at $43.
Steem had crashed 19% in four hours so if you were powering down to cash out I would stop that power down right now, the upside is if steem continues to crash we could be seeing a lot of new whales in the sea soon!.
This is how we stand right now, steem stands at $1.19, bitcoin around the $2350 mark and Litecoin stands at $45, it's a little less grim than it was last time I checked but I'm saying everyone HODL! a lot of these crashes are due to panic selling their is no need to jump straight to sell, I've no doubt the market will pick up and if you sell now you're going to take some big loses.
Investments are exactly what they sound like, investments they take time to mature if people would HODL a little more and stop dumping at the slightest sign of a downturn then the crypto market wouldn't keep crashing the way it is.
The crypto market is being heavily manipulated by investors right now and it's preventing them from growing at the steady rate they should be, especially bitcoin.
Bitcoin is the crypto benchmark and everytime it gets dumped it's taking every other token with it, personally I'm a little sick of it and for whatever the reason Steem seems to mirror everything bitcoin does more so than other coins and everytime bitcoin gets dumped Steem is suffering badly.
The message of the day is HODL we need to stop dumping so hard we crash the market and if you do decide to dump do it in smaller amounts to prevent the demand from being unable to keep up.
Let's hope this downturn picks up because right now we're seeing a complete crypto massacre!.