Is this the end? Will 2018 really be the year of decision for Cryptocurrencies/Digital Assets as prophesized?
This is definitely the worst i have seen Steem drop since i discovered it, Bitcoin price doesn't bother me much because it has this power to pump hard and drop fast. So officially i am still a crypto-noob, seeing the price falls gives me the creep i must confess.
The sky is falling, this time Financially as Crypto-Market Cap keeps dropping drastically, and for most new/freshman investors in Cryptocurrency, the Nightmare seems to just begin.
Only seasoned and veteran crypto-investors would sleep and not bother seeing the value of their investments drop and drop with aggressive pulls down the trading charts. This epic price drop is in the midst of panic "sell-off" among traders/investors which have seen over Billion USD took off the market in few days.
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Although it looks bad, only for smaller investors, this is the greatest opportunity to acquire more tokens with fiat, that is if you have enough stacked in your bank account.
It is the last two months of the year 2018 and things look like it's falling apart beyond repair! A question on many intermediate investors mind like mine would be;
Little investors like myself, most likely new and inexperienced ones would panic just like i have panicked seen my "Steem account" going way down, this may come as a result of the huge dump in BItcoin a few months ago, or just some crazy unexplainable market characteristics that comes as a result of some countries placing strict regulations on digital currencies/assets transactions via banks. Mostly western countries with Multi-Billion Banking sectors had restricted some of the services to trade cryptocurrencies as well.
Earlier this year, one of the factors given by India's Finance Minister "Arun Jaitley" was that the country wants to eliminate the use of Digital assets in criminal activities hence the country has passed a more strict Regulations regarding Cryptos.
People's Bank of China, The Central Bank of China is in moves to place restrictions on all platforms pertaining to Cryptocurrency trading and Initial Coin Offerings(ICOs) issuance which had been domestically suppressed last year, hence there is hope for a price surge, only when it will happen remains a mystery.
Also this year, the decision of major banks curbing the use of their services in Cryptocurrency tradings might be another factor responsible for the huge price drop. J.P Morgan Chase, United Kingdom Lender Lloyds Banking Group, Citigroup, Bank Of America etc. are some of the World's leading banks that have implemented the policy to stop people to trade cryptocurrencies with credit and debit cards which makes it impossible for more fiats going into Cryptocurrency trading.
This had throw more doubts on some countries Apex Bank Decisions not to sanction Virtual currencies(Cryptocurrencies) as legal tenders and any bank doing so is considered breaching the law. Although, some still do backdoor trading, even executives from these Apex banks. One question crypto-users ask is; are this Apex banks right in their decisions as the Crypto-market is in a state of Dismal Pismal!
However, would you have spent your money on gambling and booze instead of investing some of it, or spend it all on women and cigarette rather than investing it in cryptocurrencies? It is a personal conviction and orientation to prepare for a better future. When the whole sky finally falls, nothing else matters anymore!
