Crypto News: Is a Monster Crypto Rally in the Cards?
Bloodbath. There is no other way to describe the cryptocurrency market we've seen in the first quarter of 2018. The value of Bitcoin is dropping below the $7,000 threshold for the first time this year and it may be staying there for a while. The only blue skies ahead are the predictions of some market analysts who highlight technical indicators that foreshadow a strong rally and a potential Bitcoin run-up to $20,000 by July.
Despite bullish developments within the cryptocurrency ecosystem which include a positive G20 financial summit stance to crypto regulation, CBOE support for Bitcoin ETFs, and distributed ledger tech support from telecommunications giant T-Mobile, investor sentiment is fluctuating, sparking a possible repeat of February’s “Red Tuesday” Bitcoin price drop to below $6,000
A 'Red Tuesday' scenerio is certainly possible... At this point it is hard to say but the fact of the matter is if you've been hodl this far you've probably seen 60-80% losses from your ATH so why bail now?
If you believe in the long term trend or more specifically that the trend for the space is going upwards then you can feel free to just sit back and let it take its time... You've got more to gain than you've got to lose at these prices, especially if you bought the top.
I remember when I first got into the cryptospace there was a saying and I still hear it sometimes amongst veteran cryptocurrency traders. That saying is 'welcome to the shitshow' so use this time to reflect upon why you got into cryptos in the first place... If you believed then, what reason would you not have to believe now (beyond the bloodbath correction).
Thanks for reading @techblogger!
Source:
Cryptocurrency Bloodbath Continues as “Monster Rally” Looms on Horizon - CryptoSlate
Image Source:
CryptoSlate
Buy buy buy! No...Sell sell sell! Nope...Hodl!!! Awe f#(k it! I don't know anything...!
it will bounce
Wheeennnn???
Crypto people are loosing their MindS
Now is the time to mock bulls and gloat about being a bear so that this market can bounce
Totally agree with this. It's amazing how overoptimism in the bull market and hyper fear in a bear market completely take over our judicial thought system. It's like we forget about all of the amazing things that these businesses/coins will solve in the future.
Whenever I hear language like "I'm quitting, it's going down to 0. We're all fucked", I'm thinking about entering for the long haul.
Anyways, awesome article. Short & concise :) Hope to hear more from you soon!
It will definitely bounce back. Question is when. Sadly lots of people are panic selling.
Yea but some of us are forced to sell too because we are out of fiat, not because of panic
Totally understand. Let's hope things change for the better soon.
20 k by July? No way.
Lol
I doubt the possibility of that but I hope for a miracle.
We are all hoping for that :)
Just keep calm!
I am waiting drop below 3000 to enter with my new savings. No way it will go to 20k this year,but next year or year after it will go to 100k or more.
It might shock us all. Remember it took just about 3 months to go from 7k to almost 20k last year. In we can get a massive bull with no bear for at least a month, you know how far we will go.
I think once BTC makes it to 15-20k that will be the trigger for a massive altcoin rally. The media hype machine will be in overdrive and those that debated investing in the last run will enter the market. Now this could be in 1 month, 6 months, 1 year, 3 years... no one knows but I am confident it will happen.
Yep! Also, push back your dreams a year or two and cultivate the art of waiting. :)
Price is sliding, but developments in the space are going the other way. Price will catch up in the end. Just have to be patient for now. Crypto isn’t going anywhere.
Enjoy your Easter weekend mate.