As many of you know, either waking up or already on to the day on Friday, December 21 ... the overall cryptocurrency market is underway with another cryptocurrency blood bath.
But can we really be surprised?
This huge correction/dip/downtrend isn't a big surprise to me. And shouldn't be for many of the long-term crypto traders out there. The growth in just this past month has been quite expansive, shall I say, really reckless.
The hype and mania got the best and prices just rose to exponential heights that obviously, as quickly as it went up, it must also come down as hard.
While there are various news that might have helped contribute along with the overall correction including exchanges being hacked (EtherDelta and Youbit) along with shady business practices involving Coinbase + Bitcoin Cash developers, and of course, narcissistic loud mouths such as Roger Ver attempting to pretend to be some kind of crypto "god" ... the correction needed to happen to build out a healthy support area.
Basically, the whales need to get their profits, perhaps many of the weak hands who bought in at high prices during the hype, who are newbies are now freaking out and sold out of fear.
Whatever the case, the "technology" will always prevail. It just will.
It's not going away.
Boy am I so glad that I used my 0.035 BTC purchase on a 2 night Hyatt stay using it when BTC was around its peak at 19,000 USD. That same 0.035 BTC that should have costed around 750 USD is now worth just 450 USD as of Friday, December 21. If you got profits, especially lots of it, best to use them, or what's the point?
I say, to those of you who are girding your loins, HODL on.
