Hello #Steemians!
As I am sure many of you are aware, the markets for different crypto's are all forcibly falling.
But Why?
I have been doing some reasearch into this myself, since my entire portfolio has lost interest this week.
I have come across two Very Strong Possible reasons for this downtrend we are experiencing.
1. Charlie Lee's Twitter Post
Charlie Lee (Founder of Litecoin) stated in a Twitter Post that China has finally banned Crypto Exchanges. I looked and looked for this information online, but could not find any at this time. He CLAIMS its from an anonymous source that he trusts. Seeing that there is currently no fact behind this statement, it appears to be the negative side of BUY THE RUMOR, SELL THE NEWS
2. Good Ol' Jamie Dimon
Here is ANOTHER Outlandish statement by Jamie Dimon, CEO of JP Morgan. He states that Bitcoin is a fraud and will eventually blow up. Why would he make such comments at a time like this you wonder?
I feel that Jamie Dimon feels that crypto will negatively impact his Business Platform. You can tell this because he stated that if he finds out anyone in the company is investing in cryptocurrency NOT JUST BITCOIN, they will be fired. This shows fear and competition.
Your Best bet at this time if you havent already moved funds over to tether would be to wait this out. Selling coins at this point in time will leave you at a loss if anything was purchased recently.
My Sources -
https://www.cryptocoinsnews.com/bitcoin-price-crashes-4000-china-bitcoin-ban-rumors-intensify/
