When everyone was celebrating the smooth ride of BTC and overall crypto market performance, the whole market suddenly turned green and is bleeding badly today.
Based on coinmarketcap, BTC dropped over 14%, so are other altcoins. Most of the coins dropped over 15%. When I drafted the post, BTC was $11,167.71, down by 13.97%. 24hrs high was #13,311.14 and the low was $10,491.85.
In the past few days, I'd been hearing people saying how regret they were for not buying any BTC, wondering if today's drop provided any buying opportunity? and if they did take any action? Unfortunately, FOMO usually dominants when the market goes up. When it's down, the whole market trembled and people tend to watch.
Main reasons for the drop could be materialization of the profit from previous gain. The hack of Biture didn't help either, even though it may not be the reason for the significant setback. With the price of BTC and other cryptocurrency going up, the exchange has became a main target for hacker attack. Biture isn't the first victim in 2019, and won't be the last. As an investor, we have to depend on ourselves to secure the safety of our account.