Cryptocurrency Meltdown

Today's article is based on Cryptocurrency Melt Down:

The question is why was there so much of panic- Well, China on Monday morning had announced that all ICO's are to be banned with immediate effect as these are illegal ways of fund raising and those who have collected money through ICO's should be returned to the investors immediately.


I had already mentioned in my previous article to be very vigilant in selecting ICO's as there is no regulation in place - it seems China has taken a step in the right direction and  other countries may also follow the same sooner than later.


After the news from China, there was a sea of red in the crypto market and the sell-off was so severe that the tokens were down somewhere between 10-40 percent.

However, while writing this article there is some sanity that has returned in the crypto market and tokens are gradually showing an uptrend- though there is still some fear of any adverse news coming from other countries too.

Since fear seems to have abated as of now, I am in favor of the opinion to start shopping quality tokens in small lots and accumulate on every fall. 

The token in my opinion that will surely withstand the meltdown is - "XRP" which is based on a very strong blockchain platform and banks will gradually adopt the Ripple Technology - the reason for this is that banks will be saving a lot of money and time for cross border payments.

I do foresee a very bright future for Ripple unless there is an alternative which at the same time seems highly unlikely in the near future.
Hence, buying XRP for long term will give fantastic returns - on every decline the community should accumulate.

The blockchain technology is here to stay and we need not be fearful - whenever there is complete sell-off in the market we get an opportunity to buy.

Those who have read my articles posted on Saturday and Sunday that is, September 2 and 3, 2017 -  I had advised a word of caution as the tokens looked highly priced to me and were not advisable to buy at those levels then.

Those who adhered to my cautious approach can now buy in small lots and also those who sold at higher levels can re-enter slowly and accumulate quality tokens.

Folks, just remember my words: You must overcome Greed and Fear to become a successful Trader and Investor.

Trust me once you overcome Greed and Fear you can master trading and investing in Capital Markets, Commodities as well as Cryptocurrency.

Kindly note: The URL of my blog has been changed to www.fundsmagnet.blogspot.com

For any queries and suggestions, you can reach out to me on my E-mail address- johnny81118@gmail.com

Happy Investing and Trading!