I've decided to update my earlier post since I find doing so therapeutic during such turbulent times....
Things have gone full panic mode as my portfolio has "dipped" a mere 42% over two weeks time...If this was the stock market...I think banks would be closing down...
But it isn't the stock market...Its "Crypto World"...
And as such...each of us had to look deep to decide how we handle these insane times...Me? I have decided to hold since most of the exchanges I am in will only trade out to bitcoin....then I have to transfer over to Coinbase and am allowed to cash out certain limits on top of that...while I could have done that over time...I want to stay in the game...I still believe something will survive long term having some value...and to give up now...just makes my tax bill more ridiculous...however...at this pace...may not have a tax problem for long!
I do admit I am not willing to commit anything more to this market even with prices at points I find very attractive....I just don't know enough about this new world to have any true confidence on where it all heads...
Finally I am very tired of all the TA posts with the waves...fibs and candles...seriously...this current market shows that when big news hits...good or bad...all the charts go out the window...and until things settle down...all bets are off.
I wish you all well in your investment decisions...
EVERYTHING BELOW THIS LINE IS MY ORIGINAL POST....
As hurricane Irma makes its crushing blow into southern Florida...USA...I can't help but see parallels with current China news and the crypto markets...
Face it...China has always been a wild card...its ironic that based on my understanding...they do a great deal of the bitcoin mining...yet...here we are with "facts" they are shutting down ICO's and strong rumors they may be shutting down exchanges...needless to say...it has forced many of us to consider evacuating...
However...as the original path predicted for hurricane Irma was supposed to dramatically impact the southeastern portion of Florida...specifically the Miami area...therefore hundreds of thousands of people evacuated from those areas to safer ground...ironically...Irma has "wobbled" to the west and now the damage is predicted to affect more the south western part of Florida heading into Tampa...sadly...those folks have less time to evacuate while misplaced Miami-ans are wondering...why did we panic and leave?
Such it is with hurricane China...do I evacuate all my coins? Some of my coins? Will China wobble and cause less damage than originally anticipated? Or wobble and cause a whole different damage in unknown ways?
I have no answers...I am the type who probably would have stayed in my home unless I was right on the water at sea level...so for now...I find the uncertainty too great to put any more money into the crypto world...and in meantime...haven't sold anything off either...just holding as firm as I can...seeing my portfolio get crushed with some wind damage...but hoping its just a roof to replace or similar type damage and not a total loss as the howling winds of Hurricane China blow by deciding which way to wobble....