The Chinese announced this morning that they are banning initial coin offerings. Basically, they don’t think that this type of crowdfunding should be legal. Almost every cryptocurrency on the market crashed this morning because of it.
In this video, I do a bit of analysis explaining what you should do. I personally think that everything is going to be alright but there is a lot of fear on the internet right now. I think that as long as Bitcoin stays above $3800 we are going to be alright.
One of the main points that I make in this video is that investing in crypto currencies is difficult and risky. It can move up quickly and it can also move down quickly. For that reason, we have to be smart with our money and that is a major reason that I keep my coins in fiat 99% of the time. I focus on making trades and then protecting those gains as much as possible.
Be sure to check in later this evening for another video that further explains what is happening. Right now it is difficult to tell if the crash is going to continue or not because the United States is just starting to wake up. It depends if the panic selling continues.