I haven't been into cryptocurrencies long. I started when it was high... which is bad I know. But now, it seems that everything is dropping pretty low. Even my Steem wallet is feeling a little hurt from it.
Is this normal in the crypto world? Is it expected to go back up?
What is your opinion?
Things are completely gravy and normal. After an all time high is set, you have to prepare for it to go back down before new normals are made. I am saddened you "jumped in" during an all time high and nutty crazy, but rest assured if you know the tech is sound and working, then don't focus on just the price too much. Go out and spend your crypto! These aren't stocks, they are all currencies.
https://blockbooth.com/ has a bunch of cool shit up. Tools like @blocktrades help assist in spending Steem and SBD in any place Bitcoin, Litecoin, and Bitcoin Cash is accepted.
The more you spend and use your crypto and not sell it back for cash, the more you help grow all of cryptocurrencies.
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It's totally normal
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Good! lol I assumed that once I invested a few dollars in it, it would plummet! haha
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Yeah, I just wish BTC would stay level because I'm trying to day trade some alt coins. :)
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I absolutely agree! I was thinking about buying some litecoin, but it flucuates with Bitcoin. I'm not sure if I should buy more or not when it gets low
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I would definitely recommend buying litecoin and buying low is a good strategy. Now is probably a good time to buy
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The drop has to do with the bankruptcy of the mt. Gox exchange. A mt. Gox trustee has dumped a whole lot of bitcoin on the market causing the price to drop, also a article came out that google is going to ban crypto ads starting in june. Big drops like these are not abnormal for cryptocurrencies and there is a lot of rigging going on like this, because the bankers do not like the cryptocurrencies, one of the reasons to hold it. I would just hold your crypto's if I were you.
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I've heard that a lot in the last week or so (Mt Gox reason). But it doesn't make much sense to me, since there was no dump on the market at once, but the BTC was sold incrementally over three or four months. In fact, I think it overlaps with when the market skyrocketed. So I'm skeptical as to this being the reason for the current drop.
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The trustee dumped 18000 btc one day and selling 400 million dollar in btc, bth in total at key points when the markets bottomed. That's definitely has effect on the price.
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Yes, I plan on holding it... I see no point in selling now.. lol I would have lost money. I Don't have much of it, just enough to get a feel for it. I didn't know about those other two things. Even Google is against it... That's a bit excessive I think.
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FYI: https://cointelegraph.com/news/effects-of-mt-gox-trustees-400-mln-sale-on-bitcoin-market
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