Almost all cryptocurrencies have been seeing massive losses in the past day or two

I have been investing in crypto since December 1st, I got some massive gains in Ethereum since then, nearly doubling my money. But today and yesterday, all coins are falling by 10-20% per day or more.













Does anyone know a good place to store your coins? Once the trend ends, it could be a good time to buy. I don't know what the sell-off is about, I'm guessing some people cashed out and other people started to panic sell. I think the coin represented by the graph is XRP, or Ripple. It saw massive gains last year.

Does anyone know a good place to store your coins?

Hardware wallet like the ledger nano s or the trezor.

Yeah I got my clock cleaned today.

I don't know what the sell-off is about,

China and South Korea are pulling some snip.

a reply to: neo96

Yeah, I bet, you hodling? Thanks for the tip. Oh okay, yeah, I heard about China and South Korea talking about regulating crypto.

a reply to: darkbake

I refortified my fox hole earlier.

I'm settled in for the Battle of the Bulge.

If your too reactionary to the market your gonna end up screwing yourself worse.

BIG BANKS - They don't like competition. At least one angle of it not to mention the push against unregulated currency. Interesting times indeed.

a reply to: darkbake

all 16 cryptos on my watchlist are significantly down, some as much as 32%

This is a volatile market though. I'm not that surprised since this does seem to happen fairly frequently. We've seen the flip side plenty as well!

A bit of a bloodbath today. Worse, it's probably going to be bumpy all week.

I think there's a combination of some key factors.

First, you've got a lot of new folks who tried to get in, but couldn't at the beginning of the year (because the traffic around end of Dec was too much for most exchanges). So, they got spooked, and the closed or throttled down exchanges affected traffic.

Then, you had SK officials still going back and forth on whether or not they will ban crypto, or just regulate it, etc.

After that, you then had China reiterating it's pledge to ban it's citizens from using foreign exchanges, which then made folks weary about them shutting down their own (like Binance, who even has their own crypto coin)...

Then, add all of this FUD (Fear, Uncertainty, and Doubt), to the view of many investors that this is still a scam or unfeasible, even though it's been around since like 2009, and it's just a stew of disaster circumstances.

The expected buy in of Wall Street bankers getting their bonuses didn't happen either, so that's yet another factor that may or may not be in play.

I think a lot of us smaller investors are just going to ride this out (and maybe buy a little bit when we think it's bottomed out)...but I doubt that's today.

This is a volatile market though. I'm not that surprised since this does seem to happen fairly frequently. We've seen the flip side plenty as well!

And that's just it. Even with the crash, Bitcoin is still up over a THOUSAND percent from this time last year...so still one heck of a return I'd say.

a reply to: darkbake

Its volatile because its unregulated.

Aren't these crypto currencies just a big pyramid scheme anyway?

originally posted by: intrptr
a reply to: darkbake

Its volatile because its unregulated.

Watch the stock market for a day.

That is regulated.

NO ONE should be surprised by countries wanting to regulate crypto.

In China it's a billion-dollar fraud industry coupled with massive power consumption due to mining.

In the US ponzi schemes and other garbage like BitConnect have become massive. Enough that the State of Texas and the State of North Carolina have issued cease and desist orders on the operation of BitConnect in their states.

CoinMarketCap decided they would manipulate global market averages by removing Won denominated exchanges from the global average. The more time I've had to look at it, the more it looks like an attempt to manipulate the markets. You can bet the guys behind CMC sold just prior to crashing the market.

Goldman Sachs is in this space and in a big way. Do you really believe they would buy BTC at 15k per? Nope. Better to buy it at 10 or 11 k since they know they can build better ETFs at those prices and get them sold. Lord knows I'm buying, but it's not like I don't see their game. They did the same # in '08. except now they get to play in a market that has the SAME rules at the stock market did in the 1920s - a market that is just as sensitive to rumors and misinformation to boot.

Then there's all the "bet the farm" people who will get screwed over listening to people who use terms like "moonshot" and "hodl" as replacement terms for "Fundamentals", "Value", "Utility", and "Trust".

All of these things are leading to regulation. What's funny is that the people most guilty of the above tend to bitch the most about regulations in the market. They want to be able to continue to screw other investors by pumping coins on YouTube. Those days are numbered, in my opinion.

Right now we're at $600 billion dollar market cap. When that reaches 1 trillion or higher, the world's regulators are gonna start to really pay attention, because those are economy destroying numbers. Don't think for a second that governments are gonna allow an entire sector of the economy to remain unregulated while the manipulators play a dangerous game with national economies.

The trick here, and I've been harping on this a while now, is to invest in technologies that will survive the culling, coins that will interoperate with the legacy systems, and coins that are devoid of ideology in their scope.

originally posted by: neo96

originally posted by: intrptr
a reply to: darkbake

Its volatile because its unregulated.

Watch the stock market for a day.

That is regulated.

Even bigger sham, the debt overburden is trillions, who's pretending it isn't about to avalanche?

Totally agree with that.


And this:

CoinMarketCap decided they would manipulate global market averages by removing Won denominated exchanges from the global average. The more time I've had to look at it, the more it looks like an attempt to manipulate the markets. You can bet the guys behind CMC sold just prior to crashing the market.

I forgot to mention this as one of the factors. CoinMarketCap did this without warning and then stayed silent on it for quite some time.

a reply to: projectvxn

Great post, thank you.

Lol. Don't you love it?
I think it's mainly down to Christmas. Your regular folk cashed in for the holidays. Others just panicked when the fall was over 10%.
Wait for the Jan pay check and things will rise again.

Definitely could be a factor given the timing. I actually mentioned it to my friends, when they asked why I was buying into it now, because it went lower as folks cashed out to buy little Tommy a bike....

a reply to: Gazrok

Yep. Nothing but a Tweet about it AFTER they got their cash.

It's unbelievable to me that people still use that garbage site for market information that is obviously manipulated.

Aren't these crypto currencies just a big pyramid scheme anyway?

After over 8 years, and posting hundreds and thousands in profit? Sure, if you like to think so.

a reply to: darkbake
Dude, just turn it back in USD/gold/silver/securities and then buy back after the correction is over. The longer you wait the worse the massacre will be. Notice gold and silver have been rallying on the back of these coin losses??

It was all a manipulated scam to begin with. Yes there was money to be made, but it is still manipulated by a handful of big boy players, just like the bullion market. Cycle out into other stuff, and then return to pray on the massacred later on.