Market crashed

The bitcoin and cryptocurrency market has crashed almost 60% in the last month or so. The question on everyone's mind is 'Is bitcoin going to keep going down or is a new bull run coming soon?' Before looking at that question let's review the reasons behind this crash:

1. Bans (China, South Korea etc.)
2. Tether/Bitfinex uncertainty
3. Ico Scam news
4. Exchange Hackings
5. Facebook advert bans
6. Bitconnect Scam
7. Credit cards bans
8. AND MANY OTHERS FUDS
   [Another reason is institutional and wall street money being pulled out of the markets (allegedly)]

This is basically stopping money coming into the market and changing people's perceptions which are driving prices down. Also newbies that came into the market thinking this is a get rich quick scheme, sold as they probably don't understand cryptocurrency and blockchain. Please don't be that guy educate yourself on cryptocurrency and blockchain!

How low can the market go?

This is the million dollar question, which no one can answer. My opinion is in the short term there might be another correction. It could go down the level of mid 2017 of around $4k-6k, as explained in the video above. In the long term however it is going to go up. As explained in one of my previous videos, I believe it can go up to $40-60k by end of 2018. The reason why I think it will go down $4k-6k because this is where we were before the newbies (lambo dreamers) and wall street money came in. People during that price believed in the technology and HODL'ed.

Market update

Market has bounced back violently after the positive CFTC and SEC Cryptocurrency Senate Hearing Testimony. If you bought when it dropped around $6k, like myself HODL! If you didn't get into it then I would wait slightly for the market to stabilise. It might not drop again and continue the bounce but the risk to reward of getting in now might not be worth it! Do your own analysis, educate yourself and make your own decision. Let's spread the blockchain technology to the world!

What are you thoughts? Do you think bitcoin will crash or MOON? - Leave your comments below :)

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Regards,
Rocko
https://twitter.com/RockstarCryto

Disclaimer: I am not a licensed financial advisor! I have done extensive research and I have been investing and trading for a very long time but still this is not financial advise. Be safe, do your own research and dont invest what you can't afford to lose!