Binance is currently closed and many rumors swirling on why it went down. Currently, Binance is stating it will be back up in about 8 hours at the time of this writing. The real question is:
Whats going to happen when it reopens?
This is just my opinion so please do your own research and dont take my speculation as gospel but here it is. The market still really moves on news and hype rather than fundamentals. There will be a lot of fear about the vulnerbility of Binance and more will look to get out when it first reopens. This will push the altcoin market down.
That being my mindset, I'm going to sell my altcoins, wait for the downtrend momemtum to come to an end, and then rebuy all my altcoins at a better position. Obviously if the market goes up I lose position but how many think people are waiting for Binance to buy? More likely sell.
What are your thoughts? Please share your comments.