Jump to content
Ripplestil

We just can't get the Monky of our backs

Recommended Posts

You and others with the same kind of thinking, need to realize just how much BTC's success and failure affects alt-coins.

The negative news out of china isn't over yet. China has moved to cracking down on actual BTC trading (p2p) within it's borders, not just exchanges. It seems like there is going to be another major down-turn in the crypto markets before the end of October. 

https://www.theverge.com/2017/9/18/16326078/chinese-regulators-ban-cryptocurrency-platforms-bitcoin

http://www.bbc.com/news/business-41320568

http://www.trustnodes.com/2017/09/19/china-bans-bitcoin-executives-leaving-country-miners-preparing-worst

What's worse is that BTC traders are concerned China may move to ban BTC mining as well, which will send the market plummeting quickly if that ends up happening. With the most recent news, It isn't a stretch at all to think so.

With the current uncertainty surrounding BTC in China (china being the largest portion of BTC trading/mining), XRP isn't really on any traders radar. There is just too much risk at the moment to put significant money into cryptos with the looming threat surrounding BTC still hanging over the market. I mean, XRP (especially in the BTC community) is looked at negatively, with some even negating it as an actual crypto-currency (which is kind of true).

We might see a small move upwards if things don't get any worse come October, but I personally don't think it'll take much for XRP to shoot back down given the lackluster expectations traders have regarding XRP. Also, it's important to note XRP has been in a general downtrend since the anti-climatic end to, what I like to call, "The Countdown Of Fluff".

Look on the bright-side, It's a good time to take profits and wait for XRP to crash down further, thereby increasing your long position.

Eventually I believe XRP will come out on top.

One thing mentioned by Chinese government officials as a point of concern was money laundering, in addition to various other nefarious activities that aren't unfounded in the slightest. BTC has a infamous reputation when it comes to this kind of activity. It encourages my belief that BTC will eventually drop from the no.1 Crypto and possibly be replaced by XRP, but that's a long ways out. Anything could happen.

If anyone really intends to go Long on XRP, you're either going to have to weather the ups and downs, or go complain to your momma, because investing is inherently risky. Whining about it to strangers on the internet is immature and I think a lot of the users on here are getting sick of it.

 

Edited by ACC-XRP

Share this post


Link to post
Share on other sites

Yeah.... personally, I think we should be thankful at the moment. We have such a great buying opportunity. I know that when things start rolling for XRP, it will be a literal genie out of the bottle. Then people will complain that they wish they had more time at < .2 :blink:

I really think another 6 months of these prices would be awesome..... long haul, people... it WILL happen.

Share this post


Link to post
Share on other sites

Another thing to take into consideration is that we may be about 90-120 days from custody laws being lifted in states like NY and others throughout the USA.  If and when that happens we are going to see a massive spike in the market cap across all crypto when hedge fund companies and other investment firms begin to pour billions of dollars into crypto, which in my opinion will send prices soaring far beyond where they currently sit.  Moral of the story, HODL and wait.

Edited by CryptoLearner

Share this post


Link to post
Share on other sites

×
×
  • Create New...