What a crazy couple weeks it has been. Seemingly no market or sector has been truly safe from the volatility. And to add to this, there's also this looming fear that a bear run is coming. Well maybe that's just my fear. But it feels pretty real.
Now let's look at what happened in the last 24 hours!
Today, the majority of cryptocurrencies were all trading in the red. As in like pretty much all of them. To give you picture. As of this post less than 50 of the >4250 coins tracked by the site coinranking.com were trading in the green over the last 24h period.
That's less that 1% of the crypto market! At one point an alert went out today from Coinbase Pro, where trading was stopped for a short period to prevent runoff selling. At the time of this post trading appears to have resumed.
With a majority of the losses being somewhere between 10-20%. Steem was closer to a 20% drop in the last 24h!!!
Similarly the Cannabis sector was slammed today. Most of the losses weren't close to what was seen in the cryptocurrency market. With losses largely ranging between ~3-10%.
Many of these companies are now at or close to 52-week lows, where the drop from the high is well above 50%.
My question for all of you reading this:
Is this a time to buy? Are you feeling it's time to divest?
I'd love to get your take on this volatility, and where the markets could be heading. And also just hear what anyone else is feeling and doing right now. Bragging allowed!
Personally disclosure: I'm am long on a number of Cryptos and Cannabis stocks.
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