Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: CryptoGirl on January 17, 2018, 12:19:14 AM
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All cryptocurrencies saw a huge drop due to a sell off before the chinese new year.
Most had a drop of upward 30-40%
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Hi admin of the telegram group :)
Why chinese year will cause such a blood bath. I think its more week hands panicking over regulatory news from South Korea, Russia, China and USA.
Another theory suggest bitconnect meltdown where bitconnect owners have sold assets in market before announcing closure.
Do you have confirmed news?
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Every year around the middle of January we see drop of the prices, this year the drop may seem more pronounced because there are more new investors who see this phenomenon for the first time. People panic, sell at a loss and the problem is compounded. It doesn't help that the mass media run project fear(every day negative article in the newspapers and on TV, at least in my country *). I expect that the prices will normalize at the end of February, the beginning of March and after that we will see another bull run.
* in Bulgaria the banks refuse transfer of fiat to exchanges. You can send money from the exchanges to your bank account(only one bank), but not the other way. So people who want to invest in crypto have to use paypal or to make bank account in some other country in the EU, transfer money there and after that to buy crypto for fiat.