Before we begin, check out this chart from today and notice the drop.
And this one...
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And this...
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A "price drop" is not exactly the right words to describe the above charts. A "sophisticated sell off" is probably more accurate to describe the huge price cliffs in a lot of top MC cryptos. If you notice, all of these drops are at about the same time of day, today.
Kind of a spooky coincidence, hey?
Not really. The Wall St whales are "dumping their pumps".
If you click around CoinMarketCap and check out the days trading for the top 20, you will see that quite a number of the coins we all know and love have been dumped and the price has tumbled.
While the markets are well overdue for a price correction and return to real world, use-case evaluations, I doubt this a natural correction. Prices have gone up and up and up over the past half week. Presumably caused by the injection of more and more money into the markets. Thereby delaying a price correction due to newbie hype and an influx of big money into the crypto sphere.
I think what we are are seeing right now, as indicated by the charts, is the effect of all that Wall St mega-money sloshing around. We are seeing the whales dump their coins and make gains except that it's not as majestic as watching whales swim in the ocean. When Wall St and big money exits the water, it leaves the market in a downward upheaval.
Interesting to note if you are buying in right now.
For the rest of us 'low budget investors' who will pick over the corpse like hungry ravens, looking for a discount bargain, be patient. Do your math. As the prices of all coins are super inflated, avoid buying into the 25% price tags as the compounded gains over the last week put the prices still at an overinflated price tag.
I wonder whether @boxmining will pick up on this one.
Anyway, as always, I'm not your father and this is not investment advice.
Thanks for watching,
Brendan Rohan - Indie developer of 'next gen' natural medicine from Melbourne, Australia
Www.Skyflowers.co ( see "botany" tab for the plant research )
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If you support natural medicine and an independent research project that began in 1997, then steem me. The creds I get will help me provide a solid body of information that future generations can build upon.
DISCLAIMER: This article is written by an amateur investor and is offered purely for information purposes. This is not financial advice and you should always seek the advice of a finance professional.
Thanks for the info. I didn't notice the price drop this morning.
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P.s. Those charts are fresh. Last few hours this happened.
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Give the markets some time to shake out the excess capital. The next few days should be a blood bath. I'm looking at Wed or Thursday for a buy in.
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I think they might prepare for ETH run. Look at this post.
https://steemit.com/ethereum/@nbindustries/another-massive-bull-run-for-ethereum
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I seem to have found my answer. Not what I expected. https://steemit.com/bitcoin/@skyflowers/0092-coinmarketcap-adjusts-algorithm-without-warning-sends-markets-into-tumble
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Who knows what happened
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Exactly. But the fact that multiple coins all lost value at around the same time is more than a coincidence. This isn't the work of thousands of small time investors. This is the work of a few big league players.
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Only big league players together are capable of this, of course.
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I seem to have found my answer. Not what I expected. https://steemit.com/bitcoin/@skyflowers/0092-coinmarketcap-adjusts-algorithm-without-warning-sends-markets-into-tumble
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I wonder if enterprising people like you and me could capitalize on the bigger moves. There must be indicators, like this one. Repeated, like clockwork.
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