Looks like the market is already recovering.
After a dip of 21% it seems whatever caused it has faded out and buying restarted.
Will the next push go beyond 120 billion?
Tried to buy some EOS Tokens today and got a 503, website overload. Think one of the last figures I saw was close to 20.000 Ether. Now that is a nice first day I guess for EOS. Looks like the first round is going to create an expensive EOS Token. Maybe I'll try one of the next rounds, there are enough to follow. In the meanwhile the cryptos market went into a dip, 21% down at the maximum. The last bad one was on the 27th of may and went down 33%. Therefore, on the bright side, this was a milder panic. Wanted to pay some bills today with cryptos to Euro, but decided to wait a bit. In a few days I think the market will be at 115 billion or higher again.
There are still many new cryptos entering the market. One after another promising to be the next miracle works. And I do not check them all but some websites I checked look too much, well, same old and it does not work yet, but... So, then those cryptos are only a promise on paper. For some in the cryptos realm it is hard to understand that Bitshares, Peerplays, Steem, Golos are proof of working blockchain technology. And soon EOS will even move this further. Scaling with ease, high speed blocks and millions of transactions. And EOS just like Steem will have free transactions. Now, why am I writing this again and again? Just like the Steem block mantra of 3-2-1-DONE? Because it is okay that there are a lot real Free and Open Source cryptos out there. A lot of them really do add something usefull to the realm.
Yet, there is a lot of capital in fake coins. And there are many that promise a lot and deliver nothing. Not to speak of all the ICOs {Innitial Coin Offerings} that are like those mass made coins that started to flood the cryptos market from 2014 on. Pay some Bitcoin and a copy-paste coin was made just like that. The idea to store value in those was that they would become very expensive over night. While they all were made by companies that just changed some settings, compiled it and got their BTC for yet another coin. Now I can only advice to look what these mass produced ICOs actually will deliver. Difference with EOS is the proof of technology in Bitshares, Steem and so on. Daniel Larimer and the rest of the Block dot One team actually can explain what EOS is. And Github shows Free and Open Sourced EOS developement under MIT license.
We got the fastest and best blockchain technology.
Why this all, why do I bother? Well, because I am really convinced the cryptos realm got flooded by a lot of trash, that swallowed up way too much capital. It is okay that there is choice of course, that there are different types of cryptos each with their own unique function. And I do hope that the next few months the marky will filter out all the false promise cryptos and the copy-paste fake ICOs. So that the value that is stored in those scams can flow into the real deal blockchains. Of course it is best for humanity to realize that the best are Bitshares, Peerplays, Muse, Steem and Golos. With the best yet to come with the next family member EOS. But we have to give the rest of human kind the time to free themselves from the dark side. And when the time is right we will welcome them with peace, love and open arms into the fastest family on the blockchain.
In the meanwhile we will see when the cryptos market will pass through the 120 billion ceiling and move on to new levels.
Have a great one!
Relax, it will all be fine, next ceiling 120 billion
image cc-by-sa @oaldamster
NOTE: Only invest what you are willing and able to lose. And your speculation might be a good or as bad as mine.
EDIT: Text corrections and link added (thanks @beordo!)