HOW BAD IS THE DOWNTREND MARKET - BY @BLISSUJU |10% PAYOUT TO THE COMMUNITY ACCOUNT

Good afternoon ladies and gents in this community, I believe we all are in good spirit. It is obvious that things are so happening in the crypto currency market, lately I came across numerous article and most of them talked about the bear market that is seen in cryptocurrency.

This is something to be worried about and often time I remind myself about how volatile the cryptocurrency is and how it changes in price within seconds and minutes.

So I decided to confirm by my self the happening going on in crypto currency market.

After launching the market I realized that the price of certain currency are in no doubt fluctuating so badly, and then I glance through the market to see the price of the bitcoin, and then I noticed that the bitcoin is also going down and trying to recover from the fall it came from in the week past.

I also noticed the second currency in the market which is ETHEREUM. the currency also is seen in a downtrend and I wonder, what could be happening because most time, countries disputes and tweets from reputable individuals that are known to be among the crypto currency whales can also affect the crypto currency price.

It is obvious that the bitcoin is still struggling to return back to it all time high and the stage at which it is now is currently not encouraging. a bull run was predicted earlier according to crypto analysts but this bull run is yet to be seen.

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My question is when will price be stable again.

Gone are those days that crypto currency was the talk of the town, in fact people invested in it and it will be as if one is left out if one does not get a currency to purchase and everyone bragged and began to call themselves future millionaire, but today everyone is short of what to sell because most currencies that we purchased at a higher rate then are now nothing to talk about because of the downtrend in price of crypto currency.

HOW BAD IS THE DOWNTREND?

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The downtrend is regarded as the fall in price value of cryptocurrency as we get to see the value of a currency depicting constant lower high and lower lows.

It is also regarded as the bear market in which all cryptocurrencies are showing red line chart in the trading market and this indicates a downtrend.

It is so obvious that the bitcoin itself is also affected by the downtrend. the major reason why most currencies are in downtrend because of the bitcoin.

But currently from the chart below, using support and resistance to analyze future market trend, the bitcoin is showing a good up trend potential because it is not returning to the previous support level and this is a great sign and I hope it continue this way.

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Priority is been given to the greatest and first crypto currency and as such, what ever that happens to it will definitely affect the rest currencies. so with the bitcoin falling and losing value, most other crypto currencies will also follow that part and this is what we are seeing in the crypto space today.

The downtrend is terrible and we do not know what to believe and what to hope on any more but then, we still hope for a better and suitable outcome in the market. we are hoping for a breakout to surface and we hope for a true breakout and not a false one that we have been seeing lately.

Thank you all for staying with me, we will get to talk again.