Market update - 26th June '17
Hi everyone, just got back from Glastonbury and have seen we are in a dip, slightly different from the previous three dips in the last month. Those dips were 24-hour dips with 24-hour recovery. This dip started over a week ago and feels slower.
What is happening then? Who knows, honestly, I have no idea, if I did I would be trading on that knowledge and getting richer.
What may be happening is speculation, here are some thoughts:
1. The burst of ICOs is leading to ETH cash outs which are affecting the market.
2. General market correction.
3. Panic selling.
And so on. Anything could be happening.
How am I handling this:
- I am not panicking or selling anything. Even if the market is correcting I am fine with that, it will come back at some point.
- Smart trades. I sold off 2/3 of my ETH over a week ago because I felt it was bubbly and moved back into BTC as I felt the scaling issues were correcting, you can see the market reflect this with BTC dropping far less than ETH.
- Holding firm with my strategy that these are long-term investments, +5 years, as such I can ride any storm or crash.
Feel free to ask questions.