Why the market has crashed significantly over the past few days?
News
Just a quick disclaimer this is what I have gathered from the events the past few days, I’d advise you to do your own research to determine why the market has crashed significantly over the past few days.
26/01/2018 — BTC
BTC fork conference — the market was largely affected as the conference was going to have a direct effect on BTC which caused the other alternative coins to suffer.
01/02/2018 — India
There was a rumour regarding India possibly putting a stop to cryptocurrency but still supporting the development of blockchain which caused the market to not stabilise. A lot of people believe that other governments and countries will follow in the same path, this has caused a lot of FUD amongst the community causing people to panic sell and cause the price of certain codes to drop even more.
16/02/2018 — Chinese New Year
This is a recurring theme in crypto currencies which causes a lot of people to sell their FIAT which has an impact on the overall market. I wouldn’t be surprised if we don’t have another market crash around this date, that is if the market is able to recover and revive since then.
Advice
There is going to be a lot of coins available to purchase for a lot cheaper. Do not invest in a coin or a project which you haven’t done your research because you won’t be able to determine whether it’s going to increase or decrease. Only invest what you are willing to afford, at least that way it won’t be frustrating if you aren’t profiting. Ensure you set tight stop and losses so once the amount drops below a certain threshold it’ll automatically sell the coin for you.
In terms of educating yourself on Crypto and Forex there is plenty of resources online. If you want any further information on platforms which helped me, feel free to message me for more information and or advice.
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