An inexplicable dip
Trying to stay above the $8k mark
Today we see some red numbers for the top ten cryptocurrencies at CoinMarketCap, and actually some altcoins with an impressive double digits growth like Credits and Ontology, a relevant positive trend after an inexplicable dip that took Bitcoin to low levels around $7000 usd. The bearish situation we have been facing with crypto these past days are not connected to a really relevant piece of news, there are no key information to point out as a cause for the dip that is taking Bitcoin and subsequently other altcoins to monthly low levels.
Today Bitcoin reached prices above the $8000 usd by the minimum, but still battling to stay above it, what we still want to try to make sense of it because there is no real action in the market to argue this trend. The total cap has remained around the 300 billion dollars for a while and the news around crypto remain without big highlights into negative sides.
Blockchain is having the support of the investors as we have seen lately all big traditional financial institution echoing their interest to get into this technology and filling for more patents and partnerships around blockchain solutions, but that is working out fencing the concept of Bitcoin or any other crypto. This weird ostracism of cryptp from Blockchain technology is being point out by some as a manipulation from scared traditional financial institutions and interest groups.
There is not real way to predict the near future of the market without real key news coming out to the public. I believe the only thing it can turn out this situation to a more positive trend for the market will be the delivery of final products or milestones for the crypto startups that made headlines during 2017. The second quarter of 2018 is set to be the launch of many networks and tokens, like EOS or even the SMTs platform, which it might be the news that can set a change for the bear market we have now.
What do you think? Please share your thoughts in the comment section.
Thank you for reading.
Cheers!
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