This same thing happened 3 months ago. Let me explain why. A quarter happens every 3 months. Coins falling in prices is normal.
If you haven't figured it out by now.. part of normal trading patterns is that you see things climb to new highs, and then there is a profit taking period where the charts sink low and alarm everyone.
I'm not worried. I've seen this multiple times again, and again.
Do I like looking at RED numbers on coinmarketcap.com? No one does... so what does it mean? Are we going to stay in the red forever? Is this it? All coins are going down to $ZERO ?
No.
Whale investors push the price up. The rest of investors buy high as it climbs too. Then it comes the ripe moment to start shorting everything when no one else expects it to happen.
The price drops $900 or so on Bitcoin. People start panic selling on the way down.
....then it starts again...
Right now, it seems to be happening every 3 months. That's like taking quarterly profits.
So what is my advice when coinmarketcap.com turns into huge RED numbers?
Don't panic
Smile, because you know what is going on
Smile again, because you know it's going to rise again
Wait
If you are confident enough making your trading moves during the roller coaster ride, try it. Otherwise, go long term with your holdings and you generally win in the end.
Take this time to review your investments, investigate other coins, do some actual research instead of just following market trends all the time
Be happy that cryptocurrency won't die. It just goes through alarming fluctuations, and as long as it does, "someone" is always making money. Sometimes that's you. Sometimes (ok, most of the time) its whales. But there is room for profits for most people at some point or another.
I predict that in 3 months in the future, I'll have to re-write a similar post like again. For now, you can see what I wrote 3 months ago.
I feel quite positive about what I'm seeing, and I'm not worried at all.
I'm spotting patterns. They're obvious if you know what to look for...
I'm on day 10/30 of my positivity challenge.
So happy investing everyone. (P.S. while you're at it.. stop selling your STEEM if you can. We should be near the bottom now, and I expect steem prices to go back up to $1.75 again quite soon... in a matter of weeks)
This is not investment advice. These are opinions that I personally think make sense. Make up your own mind. :)
EDIT: It has come to my attention that when I refer to Quarters, I didn't "literally mean" the exact same calendar month quarters at the exact same time as registered publicly traded corporations. Cryptocurrency is decentralized for the most part, and doesn't follow the same calendar dates. However, there is a bleed-over effect from quarterly profits with traditional stock exchanges and cryptocoin trading that may be evident. Traders with experience in NYSE / Forex who also play with crypto might want to realize their own crypto profits every 3 or 4 months too. Thank you for @preparedwombat for the nice debate. Hopefully this clarifies things better.