Bloody Monday - what a great day! Steem at 1.13 USD.

Hello fellow steemians,

The cryptocurrency market reaction to China's outlaw on ICO's is an obvious decline in the entire market. The Chineses authorities together with PBOC (People's Bank of China) not only put a halt on token trading but they go as far as possibly ordering to return all the funds raised from previous ICO's which would have a devastating effect on the price of all China based companies based in cryptocurrencies. Fortunately enough, I personally do not hold a big amount of any China based crypto currency with exception of one but that is less than 1% of my overall portfolio. What does it mean for an average crypto investor? Personally, as tempting as it is, I would not probably touch any crypto based out of China. There are some cryptos that seem to be really a bargain but I think this might be just way too risky until the final outcome from the Chinese regulators. Nevertheless, that does not go for the rest of the market as there are many amazing projects whose prices are just diving based on the news. What a perfect time to do some discounted shopping. I do have my favourites but since we are all sharing the same platform then we all should be fond of one which is Steem. At the time of writing price is at 1.13 USD which is a bargain. Can it go lower? Of course it can still dip lower but I would really not bother about catching the reall bottom as the rebounce can happen faster then you think. Those are just my personal thoughts, not an investment advice!