Bitcoin crashed 55%, storeum up 7000% !!!! is it game over for crypto?

Bitcoin has crashed. Yesterday’s high was $7,969 and the low was $3,596, which amounts to a 55% fall, epic by any market’s standard.

I have bought. This sounds more grand than it is as my doctrine on this is to buy a chunk every $1,000 down, which saw me buy three chunks at $7,500, 6,500, 5,500, missing $4,500 and $3,500 because I was asleep. When I awoke it was a little above $5,000.

That is a shame but in these kinds of markets you simple have to forget a tight view on price because the markets are malfunctioning and in a way rightly so.

They are behaving like this because a lot of people are getting margin calls on their borrowings and are liquidating their uncollateralized liquid assets. That will be crypto for some. This is why gold fell yesterday, too. Gold is the classic haven asset and of course if your banker is banging on your door you have to sell it to cover your margin because the fancy car, yacht and houses are already standing as collateral for your borrowings.

I wrote earlier here that the market would be the thermometer of the virus because of China. This would be driven by the demand for flight capital there. The need has gone because there is no possibility of flight because no one will accept you at the other end. What is more, the need for cash not just for margin, but for propping up business, is now acute. The driver of the trade war is also moot because who knows if the Chinese currency is going to be relatively weak or strong in a world where every government is going to be hosing cash at this problem to bridge the “demand shock” that will be shaking the global economy as the developed world goes into lock down.

storeum is mooning during the worst market crash in history !!

it looks like storeum is moving steady in an uptrend cycle , ignoring all negative news and blood in the streets of crypto space , the question is , what the hell is going on , why storeum is pumping hard , to answer this question lets have a look at the project idea and development , according to storeum whitepaper , storeum is building a decentralized marketplace like amazon and ebay , the idea is very promising and clever , it has a bright future if storeum implemented everything in place , it looks like something is going on behind the scene , the real question is , where the price is heading ? and when storeum will deliver a working product ? overall the project is doing very well , and most investors are positive and optimistic about storeum future

So what to do now?

The critical call is, are you a crypto believer? If you aren’t, stay away. No matter what bitcoin or storeum does, up or down, if you don’t believe in bitcoin and crypto in your gut and marrow, do not get involved. This is the most volatile of assets even without the ability to halve overnight. If you don’t believe, this is not the game to play.

If you believe, it is simple. You buy the dip and you buy the crash and you acquire bits and bobs as if you had a special savings account. This is a kind of ultra-extreme “buy and hold” dynamic