Crypto Market Moves 🚀 Sustainable Development or just another quick pump&dump?
Hello Steemit friends,
the bear market created a funny state. On one hand we have these sideway movements now for several months with some ups and downs. Optimists can say the market is quite stable now after the huge selloff after January 18. On the other hands there were several big announcements (BAKKT, Bitcoin ETFs,trading desks,..), achievements in ongoing projects (Lightning Network rising, Steem Monsters!, Flixxo Beta,..). While many altcoins plummeted in price, losing up to 95% percent of the initial value there is a lot of great development underway which is not represented in price currently in my opinion. Currently we see another quick rise from lows of about $186 billion market cap (Sep 12th) to $228 billion (Sep 21th).
source: coinmarketcap.com
That was an increase of about +22% in just one week for the whole market. But that's not for the first time. You can see similar movements in July and also in August in the chart above. The current acceleration looks more like no. 1 in the chart which could end soon with another pulldown. The fact of the matter is also since July there is a lot of development is going on in many successful projects like Steem, Pundi X, Ethereum and also many much smaller DApp projects like Flixxo or Trueflip.
The current stable market is poised to rise at some point if the market participants realize the value created by all these projects.
What do you think what will happen til end of 2018?
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The last months of this year are really important for cryptocurrencies now the correction has already happened over 90 % hoping the trend changes soon enough
I think there is too much focus on ETF things driven by media rather than many other much more important accomlishments like:
When the awareness for all this rises then the market is ready for the rise. The longer we have this covered the more surprised the herd will be after revealing the fundamentals at some point. In my point of view it would be healthier to have this awareness all the time to have a more efficient market.. but hmm that's reality!
I saw there are some big shorts pending to close so the price has to rise this weeks and after that we don't know i mean whales are controlling the market and we have to learn to play with them. Regards
Basically i see first signs of a alts recovery, BTC dominance decreased to a more reasonable level now. Looking forward what Mr. Market has to say.
I believe the market will trade parallel till the end of 2018, I don't believe the market will experience a bullish trends for a long term just like last year gains. But I Forseen a positive growth of the market come 2019
My educated guess months ago was that we see a stabilizing market in 2018 with slowly climbing market cap and then in 2019/20 the next major bull run when big things happen (major company adopts BTC, BAKKT launches, ETF, lightning strikes, atomic swaps are used like toothbrushing with wallets, customers flocking in paying with crypto,..)
From today upwards market has changed.
i'm quite optimistic too, i don't expect big moves but slowly climbing market next months.
I agree.
Checking the long term wicks is always a good reality check. It's definitely time to listen to our veteran traders. Thanks for your insight!
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There is a lot going on with institutional investors. They want but they can't currently or need more time for preparation. Many private investors are now nervous, need fast money, but i think panic sellers are already out.
I've heard that the institutions may be waiting for a slightly greater recovery before investing. It would make sense to see a little more accumulation rather than a pump of 30 billion marketcap overall. I do not know anything except what I read in the charts though. 😆
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The tension is always rising when the fundamentals catch up and if i look around i see so much going on without any hype. It will be a big surprise for the market in a year and beyond!
@onetin84, Yes, for now the Market is reflecting as effective and now we have to wait and see where it will going to go.
And for sure the year 2018 is not for the Crypto and really we had really tough times and many are facing the same rough situations.
And yes, we've heard about some effective Projects in Crypto Sphere and in Steem Economy and let's hope for the best.
And for now the upsetting news is Dlive decided to migrate with other Blockchain and for sure it's really an negative point but in my opinion nothing will stop and for sure we will grow.
Wishing you an great day and stay blessed. 🙂
Yes, even such great project leaves Steem, there are 10 just behind the curtain to fill the gap. SMT is just starting, there is so much going on currently. Thank you!
Welcome and exciting times are ahead. 🙂
wow that's good news man!!
Coins mentioned in post:
you are right onetin84
Prices are constantly changing