Bitcoin and the Top 100 alternative cryptocurrencies (altcoins) took a dive today with some in the negative with double figure percentages.
The Cryptocurrency / Altcoins Market Falls Below $100 Billion.
According to data from CoinMarketCap, the cryptocurrencies combined market capitalization went from a high of $117bn yesterday to just under $100bn today, a period in which more than 80 of the top 100 cryptocurrencies have seen double-digit declines.
While this decline may just be a speed bump in the world of cryptocurrencies, it does leave some traders in a panicked state.
Queen Wiki never recommend making emotional trade moves based upon 1 hour or 1 day market changes. We”ve seen this in the past week, the past month, the past year and years prior.
We look at this as a good opportunity to restructure our holdings and to buy Bitcoin and some of the top 20 Altcoins while the prices are low.
What happened to the mantra and proven strategy of “buy low, sell high”? We see too many times that emotional buying results in selling low and buying high.
Enjoy your day! We are off to buy more altcoins and bitcoins and implement our re-allocation strategies!
More to come!