Uptrend, downtrend, it remains an opportunity for those who know how to leverage the situation. I will keep on saying it, the best strategy in the financial market is patience. Many of us don't have it or should I also say, our current financial situation doesn't permit it.
The business of investing especially in a volatile market is having enough and to spare. Forget about strategy upon strategy, just get your list of reputable projects and hang in there long enough. Success in such a state is at 98%. Warren Buffett would advise here; make your pickings realistic; focusing on difficult projects as investment is nothing but you just stressing yourself.
It was one of those things a friend drew my attention to and guess what token it was, ripples (XRP). I think that was around 2022 when it was lawsuits upon lawsuits for ripples and the performance seemed to look very poor.
Yet when spanning on a 365 ROI, it was a big interest return for investors who exercised some patience. I learned, daily/hourly candles are not actually the true market summary. It is always a hype if it is running green or a panic moment if it is bleeding.
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That is the market for you, overnight action will trigger a morning action. What was yours? I woke up to see both LEO and Hive prices down.
I had to look twice, maybe my first site was deceitful. No it wasn't, both Hive and Leo went down. Ok, it has been very hectic yesterday so it was one nap that I ignored early alarm time. Maybe the alarm was already signaling me that some things are red already.
I have been putting my focus mostly on the Hive ecosystem these days. I had to later look into an expanded ecosystem (the cryptoverse in entirely and look Bitcoin is bleeding).
Ok, we ALL know the story, when Bitcoin is down, expect a bloodbath for the altcoins Industry. Exactly just that again, this shows a form of monopoly market as Bitcoin continues to decide market directions.
Before going further, what actually happened, what has again triggered such a quick downtrend? As we speak, this is the worst single day market collapse in the history of the crypto space. The fact is, as long as big players (whale investors) and influential personnels exist, every market will always be open for manipulation.
As the crypto space is now settling under the ARMs of centralized systems, expect more of such.
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President Trump just triggered another shock wave that is currently worse than the FTX crash of 2022; a 100% tax on Chinese imports. When will the trade wars end? It is sending unexpected market shock waves.
Bitcoin and Ethereum even showed some resistance but there has been a big liquidation in the altcoins Industry. We are talking of a range from 35 to 70% market flush.
It has been another big blame for the CEXs. I have been trying to digest why this blame has been pushed to them too according to a tweet by Arthur Hayes, BitMEX co-founder. It is about collaterals for leverage.
Many traders are using altcoins to secure leverage positions and with such big hits, CEXs automatically sell these coins or tokens to cover losses. You can imagine how such a herd mentality will trigger a widespread sell button.
To conclude, let me add, this will continue to remain a big concern for the altcoins markets. We are talking of high volatility and low liquidity here. As usual, there has been losses or to professionally put, a transfer of market gains. I guess it is another start over, the floor has been wiped clean to start new market positioning.
It has been a long time since I saw Hive trading below $0.14 cents, it also means enough traders were collateralising on exchanges. I feel Leo is more of an in house sell to buy back positions. There is no need to give a path at the back, if you’ve been here long enough, you will know that first, the marker will gradually be bouncing back and secondly, it presents and opportunity to buy cheap.