When Bitcoin hit the 2200 US Dollar mark.

And suddently a huge sell started.

Trusting it will hit full green again soon

Just while I was preparing some things for the time to come, watching the crypto currency market. Close to 80 billion total market capacity! Bitcoin shooting through the roof. And I am okay with that. Looking at the Steem wallet, well, that is looking nice too. And the weather finally turned to summer like here in the North-East of Nederland. Oldambt being more beautifull than ever. So, just a perfect day...

Then, while I am planning for the rest of the day, there it was. Went to Bittrex, see how my DigiByte sell order is doing. And then I saw red candles, appearing everywhere. Do I have to sell? Change my order? And should I have started a Power Down already when Steem hit the 1 US Dollar mark? And Bitcoin why did it get pumped? Do I need to cash in now? What about Litecoin, noooooo! Panic hit me, kind of, so to calm down I need another cup of coffee.

Keeping faith, holding on

Breath in breath out, count those heart beats, relax, it is just a huge market dump going on. That happens when large amounts of bot trading tresholds alarms go off. All these automated trading software programmes are set to do this. And the millisecond after that it is all red on the market. That means upto a certain point when the buying starts again. Profit huge enough? Buy again at a relative low and let it rise again. In essence that is what seems to be going on. For manual traders this sometimes results in a panic. The famous FOMO {Fear Of Missing Out} kicking in, it happens with a huge buy burst and now also when the market goes hard into the red zone.

This happened a lot of times before, it is pattern, the market pumps and dumps. Four billion trade in 24 hours, that is quite a lot. And after that, picking up where it left off. Seems this one was even a short one. There might be more dumps during this day, although I guess some bot trading thresholds will be reset to higher limits today. So today not yet hitting the 100 billion total market capacity mark that I expect soon. Because where there is big profit to be made, more investments will come. The avalanche momentum of growth for the cryptocurrency market only has just begun. Therefore I am staying where I am in the Bitmoney realm with Bitcoin, Litecoin, Digibyte and Steem, of course. The sun shines and I'm totally ZEN again.

By the way...

Remember, only put in what you are willing and able to lose. And your speculations may be as bad or as good as mine.

Have a good one

It is that little scary FOMO goblin again

photo and edit cc-by-sa @oaldamster