CRYPTOCURRENCY Crashing - Be calm, this happens every year in JAN - PROOF by bunnypunia

cryptocurrency · @bunnypunia · Jan 16 '18 (edited)

$12.11

CRYPTOCURRENCY Crashing - Be calm, this happens every year in JAN - PROOF

So almost all kind of Cryptocurrencies have been crashing since the last 24 hours. As I type, BTC is under $12000 and others are seeing anywhere from 5 to 25% decline. 

> BUT DONT WORRY - THIS HAPPENS EVERY YEAR IN JAN

The reason for this seems to be the Chinese New Year. People want to buy expensive gifts. Hence the selling will happen. Every year in Jan - see the chart below

![bit.jpg](https://steemitimages.com/DQmQDDRzXs3MV6DAqBXq7bBjNeDfcPR2xiYscZbNeknjesB/bit.jpg)

This chart was uploaded on twitter by [**Yaser**](twitter.com/Yaser_d) and is self explanatory. I did some digging on CoinMarketCap and had these results

![](https://steemitimages.com/DQmXSPSigvNTddpoQ3LhSNpRvNgXFfJEKmVa1iiehhgPitj/image.png)

So i guess we can all keep calm and let the time pass :-D 

You can thank me later :)

👍 mbp, s4s, hancockray.edist, goel.tarun, murda-ra, akhilholden, bunnypunia, britcoins, originalworks, nelkeljdm, imperialaussie, thecooldentist, quantumthinker, touringdiaries, sundararaj, luciferdabeast, divaa, uniquevineett, kyndyz, manohar4

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@munali · Jan 16 '18

Normal occurrence. Thanks for sharing

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@bunnypunia · Jan 16 '18

The pleasure is all mine :)

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@luciferdabeast · Jan 16 '18

Expected but not supprising. Also heads up for sharing it because most people don't know about it.

👍 luciferdabeast

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@bunnypunia · Jan 16 '18

$0.04

Cheers man

👍 bunnypunia, luciferdabeast

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@britcoins · Jan 16 '18

$0.11

It is so true. End of January always the time perhaps the people in west also broke from the holidays, need cash, and weak hands are also shaken out ...end of Jan is the true shakedown such is the volatility of the crypto market. Volatility caused by simply the fact the market is a fraction the size of something like NASDAQ ... but growing fast!

👍 apasia.tech, britcoins, imperialaussie

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@bunnypunia · Jan 16 '18

$0.03

Well said

👍 britcoins

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@britcoins · Jan 18 '18

$0.11

Thank you sir, followed :)

👍 apasia.tech, britcoins

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@bunnypunia · Jan 16 '18

!originalworks

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@originalworks · Jan 16 '18

originalworks

The @OriginalWorks bot has determined this post by @bunnypunia to be original material and upvoted it! 
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To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message! 
 <center>*Please note that this is a BETA version. Feel free to leave a reply if you feel this is an error to help improve accuracy.*</center>

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@imperialaussie · Jan 16 '18

Thanks for posting. Good time to buy :)

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@goel.tarun · Jan 16 '18

Good data mining. If the trend follows the usual path, then eventually the crypto space will go up from here in a matter of weeks. Must be taken as a buying opportunity then :D

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@quantumthinker · Jan 16 '18 (edited)

So, the news of planned banning of <b>Centralized Trading</b> as well as <b>Mining</b> in China and comment by South Korea's Finance minister yesterday to still consider banning of cryptocurrency has nothing to do with it??

👍 quantumthinker

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@bunnypunia · Jan 16 '18

A lot of report on twitter are saying that the china ban thing happened 3 times in the past one year. The latest one is being highlighted a lot. As for korea, lets see. Even Indian minister have said the same thing. Fingers crossed

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@quantumthinker · Jan 16 '18

In India, I think government has created a committee to suggest what should be done. Regarding china, They have banned ICO's offering last year. So, they may be banning mining sooner too, because electricity is a major factor in the development happening across China.

👍 quantumthinker

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@divaa · Jan 17 '18

Thanks for sharing this post.

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