Last night, the market received a pretty thorough beatdown. The only coin that I sold during this was SALT, as I did not like the way that it was going against what I thought would happen and thought it would be best to secure my profits and move on to the next coin. I am still holding ETH, OMG, NEO, ETC, CAPP, ICX, SUB, and a few other small coins.
On the market dip, I added ZCL (upcoming Bitcoin Private Fork), and GUP (Coin I exited earlier the other day but it has catalysts).
The reason for the dip seemed to be that South Korea was contemplating a cryptocurrency ban. This is nothing new. This type of FUD (Fear, Uncertainty, Doubt) comes up every couple months and the market always bounces back. I will be watching Bitcoin closely because it’s an indicator for the rest of the market so if things look bad there I may decide to move some funds to USD to hedge against the market dip and look to buy some stuff while it’s low. The BTC bounce from the dip has been rather weak, so it may continue down. The Altcoins, however, have been bouncing back pretty well overall.
I will update with a chart on my entries later today. Thank you for reading!