Did anybody notice the China sell off?
My current theory is that China's private credit engine/shadow banking sector has stalled. So Chinese Btc speculators have been forced to liquidate.
Any other views out there? Thanks.
My current theory is that China's private credit engine/shadow banking sector has stalled. So Chinese Btc speculators have been forced to liquidate.
Any other views out there? Thanks.
It's not persuasive. If shadow banking sector stalled, the Chinese security market wouldn't have had been so firm.
The crypto bulb popped, no fresh money coming in. Is it simple as that? I've got to hodl with my average cost high in the sky.
What's your average costs, approximately? Mine is about $609 (atm), and yes average cost (being in the red or the black) does affect thinking and behavior...
No leverage, right? I think you gotta hang in there, buddy. You've taken the worst of it up to this point. Even if there is a flash crash that would happen at about 455/450 and we'd stabilize around 430. I doubt, at that point, they'd be able to continue hunting margins even lower than the low 400s range... there'd be too much buy pressure.
So, that's probably the worst case scenario. The best cast is we found a bottom and you didn't move in and out with the incidental costs/slippage that come with not knowing where the bottom is.
So yes, if no leverage, hold tough. If leveraged, maybe still... but that's rough.
