WHAT is going on?

in #cryptocurrency9 months ago (edited)

There's blood in the streets right now.

Does anyone have a clue why this is happening at the moment? Just randomly visited coinmarketcap to check some numbers regarding BAT, and I was shocked to see what's going on right now in the crypto sphere.

Do you think the COVID-19 outbreak has anything to do with this? That's a possibility but I'm just speculating at this point. We've been used to a long bear market, but this is not something you see every day.



Unfortunately, Steem is getting hammered as well.

However, it is more than obvious that this is not just about Steem. Just the overall trend.



What do you do at times like this?

What do you think is going to happen next?

It would be interesting to read your thoughts in the comments below.

Screenshots taken from coinmarketcap.com
I appreciate your attention.

We have a credit crunch. Many institutions and people need cash (flight to safety). Because of the deteriorating economic situation companies will make less cash flow. So they need cash to be able to make payments (for bonds or other debt, salaries, etc.)
Within crypto there's a flight to BTC (safest form of crypto).
Stock owners sell their stocks to get cash. Within fiat, there's a flight towards the USD (the safest fiat money).
That's my view of the situation.

Yup, this is my interpretation of the situation as well. If you ask me, it's a good chance for some nice trades, but I didn't want to refer to anything of this sort as my posts are not to be considered investment advice.

I don't give advice, too.
I'd expect a further consolidation towards BTC over the coming 2-3 months (market dominance >70%). But I won't trade. I just sit and observe while I continue to accumulate BTC and perhaps a small amount of steems.

Solid plan, and certainly the best move. It's always good to sell when they're buying, and buy when they're selling.

goodness :)
no~thing special..

I wonder what is causing this.

Don't you know intuitively?!
They spread bad vibes and fear...
and ppl have panic attacks regularly...
and we just forget that MATTER is actually vacuum with gravitational force :P

 9 months ago Reveal Comment