Something is not right here. I've seen a few corrections in my crypto time but this one is crazy. By crazy, I mean the banks are doing this. I think the huge run up to 850B crypto space was the banks buying some of everything. They are selling off massive in spurts and getting newbies to join the panic. I nicely timed South Korea announcement would help. Seasoned Veterans in the space are quick to buy back, hence the 10% hourly gains, a few times in the last 24 hours, and then a huge dive into the red.
The good news is that most of us know bitcoin is dead and owned by the banks. The other coins are free market. If they want to sell off, they need to have them in the first place. No futures crap. If they caused the last bull market, they are probably out of bullets to dump.
Bad news, what if the banks have been buying this whole time? Holy cow. What if they ran up the market to 850B from 200B and are milking all of the folks that jumped in on the dips? How about the poor folks that bought in at $18K thinking it would get to $1KK?
So-So news.... At some point, the coins with real value are going to make some good runs. I hope for this and 1% a week would be great, but after today, unless you bought some EOS at $0.80 the idea of $48 by next month and 3X your investment.....
Hopefully you all have been smart and buying some gold and silver along the way with profits. If not, when (if) it all comes back, you should think about it.
TWM
