Annual Cryptocurrency Market sell-offs scare New Investors but Emboldens Seasoned Veteran Investors

lunar-new-year-sell-offs
lunar-new-year-sell-offs

A chart produced by user secruoser puts this in perspective:

Lunar New Year sell-offs.
Lunar New Year sell-offs.

Just two of the 100 largest cryptocurrencies listed saw an increase in value. Tether moved up by just over one percent to reach a token value of $1.02 and market cap of $1.5 billion, and Cryptonext increased by 0.89 percent to reach token value of $5.75 and market cap of $259 million.

 

The cryptocurrency market has seen a big influx over the past 60-90 days, even receiving social media attention on Instagram stories and Twitter from celebrities like Kevin L. Walker, Floyd Mayweather, Jamie Foxx, Donald Glover, Mike Tyson, and more. Many investors went to bed last night stressing why the fate of their Bitcoin and/or cryptocurrency portfolio would be, and have now woke up to a declining red sea. Just about all the major cryptocurrencies mysteriously plummeted overnight, with many coin holders losing more than 25% per cent of their value(s). Bitcoin, the “Gold of the crypto world,” almost 50% down from its recent December high of over $20,000USD.

 

Given the data shown. this appears to be a cycle.

What do you think? Buy more? Sell? Hold? Comment your thought below!

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Piiggy

Written by Piiggy Bank

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