There seems to be a lot of panic on the alternate cryptocurrency exchange MintPal at this time. Deposits and withdrawals for WhiteCoin have been halted because of a double-spend attack on WhiteCoin. AsiaCoin is one of the coins caught in the ensuing chaos.
While AsiaCoin and WhiteCoin have absolutely nothing to do with each other, it does seem as if people are emptying their alternate cryptocurrency portfolios. While AsiaCoin is actually one of the coins with the biggest growth potential to hold, traders aren’t always thinking clearly.
A lot of rumours said that while MintPal only halted WhiteCoin transactions, the same would be happening to all listed coins, including AsiaCoin. Even though people should really work to verify facts, and not believe everything on the internet, there will always be a butterfly effect.
As soon as people see a certain coin, in this case AsiaCoin’s, price go down, there is a lot of “panic dumping”, also known as “a weak hands shake out”. Most of the people holding various cryptocurrencies only do so for day trading purposes anyway.
AsiaCoin is one of the cryptocurrencies which can make you a lot of money by day trading, and thus if people are seeing prices dip lower than what they bought in for, there is a 50/50 chance they will sell off immediately to “control the damage”.
Unfortunately, this will lead to more people noticing prices going down, instilling fear of a potential “price crash”, and thus driving the price down even further because of more people looking to sell their AsiaCoin.
Rest assured people, and take it from a credible source, that AsiaCoin deposits and withdrawals have not been halted, and everything is fine. These issues only concern WhiteCoin, and no other cryptocurrencies on MintPal.
Anyway, I bought up a ton (52,500) of AsiaCoin at 1,435 Satoshi, and I’m pretty sure they will be worth twice as much in the coming days. Just sit tight and hold your coins, if you sell now, you will lose out, simple as that.
AsiaCoin donations are welcome to : AUfVbAvfhatS74S3ocZYJQzQQWKyJS2h1r