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A big issue with Crypto is that there is no floor. It also trades 24/7. So there is no cool down period if people start to panic. So we are seeing the result of
by ThrowITout4321 4y ago
A big issue with Crypto is that there is no floor. It also trades 24/7. So there is no cool down period if people start to panic. So we are seeing the result of that. People are panicking and will sell as soon as they see their gains start to disappear. It's not the first time and it won't be the last.
It needs a shakeout and it will be stronger once it stops. There are going to be lots of people who will pick up some great bargain since at some point it will reverse course. Unfortunately no one knows that number.
- MuffinFlavored 4y ago> It also trades 24/7 For some reason it seems highly correlated to U.S. equities (stock market). Does it do much after hours compared to when stocks are also trading? (9:30am-4pm Eastern)
- ThrowITout4321 4y agoYes, you're right, there is a correlation but I've seen bitcoin have big moves outside the stock market's trading hours. Big moves can happen at any time.