Several large reductions in the Crypto Market Cap have occurred in the last week. They have cause drops in coin prices across the board as well as possibly some market panic and sell offs which have led to even further declines in prices. Market analysis is based on the evaluation of organic movements in the markets not being manipulated by data reporting or possible "whale investors". There are several reasons given for these quick reductions in Billions of USD equivalence from the CMC in multiple publications. This again establishes the volatility of the Crypto space and reminds every one this is a speculative market. I am pointing out the areas of major price drops correlating to the drops in CMC:
#1 1/8 23:47 UTC ($829,667,000,000) to 1/9 14:47 UTC ($702,303,000,000) -14% Market Cap Drop = 23 Satoshi Drop #2 1/10 22:47 UTC ($731,310,000,000) to 1/11 04:47 UTC ($628,386,000,000) -13.5% Market Cap Drop = 26 Sat Drop #3 1/11 16:47 UTC ($711,734,000,000) to 1/12 00:47 UTC ($649,125,000,000) -9% Market Cap Drop = 19 Sat Drop #4 11/15 16:47 UTC (713,329,000,000) to 1/16 01:47 UTC ($641,990,000,000) -11% Market Cap Drop = 24 Sat Drop
As you can see this creates a lot of volatility in the prices of the coins and causes a quick decline in value. Keep this in mind when investing in the Crypto Space. With that said RDD is possibly reversing trend, there was a bounce after each drop and I anticipate the same with the price returning to >= 132
Komen
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Update right now with this market wide correction I am holding all my trades. Altcoins have made some good rebounds since the sell off first of the week. I feel like BTC needs to give us better signals before we can figure out the alts exactly. I will be updating all my trades I am following this weekend. I should be able to give a much better analysis by then. For now hold with patience. Thanks
That seems like a pretty weak bounce i think I'll be setting my buy orders around 95
vthokiee97
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@RizeSenpai, to each their own. But orders for 95 only works if it returns to 95. Maybe it will. Wish you luck
RizeSenpai
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Thanks. I initially got in at 112 anyway so buying more anywhere from 90-112 would be great for me but im just really hoping for that deal since i have an extremely tiny account. I did make 250 more coins trading it at the top though I'm pretty new to this.
vthokiee97
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@RizeSenpai, this coin has a lot of potential I’ve been hodling & charting it since it was at 10. I have sold some and reloaded in the dips. I don’t think it will get back to 95 currently. Of course I definitely can be wrong.
vthokiee97
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@RizeSenpai, best of luck though. Anytime you make a profit it’s a job well done regardless the size of your investments. We are here to make money not loose it.
Puetas7
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The whole market sank, but this coin is still going up like all of us, we're just living a bear moment.
vthokiee97
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@Puetas7, yes that’s why I pointed out the data on the recent market cap sell offs. Very large declines in short periods of time??
Puetas7
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@vthokiee97, the market always repeats itself, if it is not so, it does not survive. Now 80% of the kids have returned 50% or more of what they earned last season.