Cryptos -wild summer - Downside target 2100 USD => then up to 4000USD

Cryptos are moving wild, the market has just corrected down big time, and I think more downside movement will come. In my opinion, the current correction is driven by several big ICOs that just completed recently and the founding teams changing those significant ETH funds into fiat, to pay for their operations. Further there is uncertainty about an upcoming hardfard within Ethereum and the general bumpyness around BIP148.

Looking at the BTC chart, its worth to note that the price closed yesterday quite significantly below the 18 day moving average of lows. Bull momentum has been taken over by bear momentum, with a downside potential to the old low around 2100 USD. I have liquidated around a third of my portfolio, to have some funds in case the market goes further down.

I believe its going to be a wild and choppy summer, with some sideways movement until end of July, when the BIP148 is getting resolved, and then a next proper rally towards 4000 USD from August onwards.