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Nice analysis there. The current turmoil in crypto world is as a result of August 1st. Even though they may take time to recover, we may see $4000 bitcoin price by the end of the year or early next year.

I think that the down trend will end after the bitcoin fork in the beginning of the August and after that everything will be back to normal. Just my 2 cents. All the best, Andreja

ICO cashout only not a bear market

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Steem is below dollar now and can it be related to summer? Maybe whales are resting or most of bloggers relaxed away from internet.

Thanks for those insights. I was wondering why the drop in cryptos had occurred but did not know enough about the technicalities to speculate: it's videos like this that offer a glimmer of understanding to a crypto novice. Cheers.

Very valid point on the "disillusionment" front. And the increase in transaction expense... could be a real drag on crypto. I believe buy-and-hold is a good strategy (best strategy) going forward.

A very good point you have made. I think there has just been an excess of hype and lots of new buyers of crypto recently which has caused the huge spike. The drop we are experiencing now was always inevitable. It happened back in 2013, this time I dont think the drop will be as far and the down trend will not last as long. My prediction is a low of $1500 per BTC, worse case scenario $1000. I am pretty happy about this drop as I see it as a chance to buy more while it is cheap.