There was blood in the water for digital currency investors this week. Almost every coin tumbled in value, and it painted Coin Market Cap red.
Before the bloodshed began, Ethereum (ETH) and Bitcoin (BTC) were on a tear. Both coins increased in value dramatically over the last two weeks. Investors rejoiced. Analysts began to sweat.
No matter how you reacted, the value surge was too dramatic in comparison to past trends. Surges in the past have triggered violent corrections. That meant that when Ethereum sat at $420 and Bitcoin was near $3,000, a crash was imminent.
The crash came on June 15th. In a day, the total digital currency market lost $16 billion in market cap.
Today, the total digital currency market cap is back at $100 billion. Ethereum is holding $350, which indicates that it's stabilizing.
But the effects of the massacre have resounded with investors: Thousands panicked and sold.
Regret is a sad story being told all over Ethereum Reddits and other forums.
But these things will happen again and again.
Ethereum, like all markets, has its corrections. It's best to learn about the corrections. Trust me, I know it's hard not to sell when you're bleeding money. But you can rationalize it and pull through.
https://www.wealthdaily.com/articles/why-did-all-the-digital-currencies-go-down-this-week-ethereum-bitecoin-eea-announcement/8734
Topic: [2017-06-16] Why Did All Digital Currencies Drop This Week? (Read 2614 times)
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