Good morning guys! I hope you all had a nice weekend and a good start into the new week :) Yes, I know most of you are desperate right now because of the China ICO Ban and the huge correction on the market that resulted out of this.
Here are my thoughts on this....
MY OPINION ON THE MARKET
Christmas Sale already? Nice! Actually I was hoping for another huge dip. I buy coins on a regular monthly basis with a small part of my income. I did not buy my September share yet, so this selloff comes in a perfect moment.
ICO BAN
We will see what this "ICO Ban" is really about. Maybe it's a good thing and people will start to go back to trading actual coins that have a solid company behind it and stop jumping on every shitcoin ICO that some 16 year old guy in his basement is pushing over twitter. The normal "trading market" should profit from this. Or did you really think people will just stop trading because of this?
NEO
NEO, NEO. I really like it actually an I have a small amount invested in it. Luckily I got on a low price, but man look at NEO. A lot of peoples money is burned there right now. "The Ethereum of China" has a hard time ahead the next days because of the China ICO Ban. I don't think it will die though. So, as a longterm trader I will just hold my NEO and see how this unfolds.
NXT, ARDR & IGNIS
NXT going for a dip is no surprise for me. There is no hype around NXT. The only reason for people to buy NXT right now is to get IGNIS. Either through the ICO or through the snapshot. Before announcing the official ARDOR launch and IGNIS Snapshot, most "make money quick newbie traders" will not touch it. Why should they? You really think they understand or even WANT to understand the tech? No, they just want to make money. So they buy whatever is pumping. Even if NXT could cure cancer, they won't buy it unless they see a huge pump on it.
But not buying and holding NXT and ARDOR at this ridiculous low price is a huge mistake in my opinion!Â
STEEM
Oh lovely Steem! I always cheer up when I see steem going down. Why? Well, because I am a long term holder and I love accumulating coins that I really believe will see a huge rise in the next coming years. And Steem is one of those coins that really get me fired up. I think we will see many more people jumping on the train and the steem price will profit from this. My target is still set to about 10 Dollars. So everytime I see the steem price go down because of the natural reaction to the market, I jump in and buy some more. Let's see how this turns out :)
WHAT ABOUT THE FUTURE?
I have a feeling, that we will see a nice comeback in the coming months and next year. Especially for coins that have been around for a while or that have solid teams and regulations behind it. After all the newbies got burned for not listening and trading on a short-term basis, they will come back crawling in, together with a new wave of newbie traders who want to try their "luck" an make "huge money quickly". At that point, the today newbies will hopefully have learned their lesson and start thinking more on a long term basis.