A Look At Total Crypto Market Cap

Total crypto market cap is indicating that the area of support should be around the area where the crypto mania started - June 2017.

The unfortunate thing is the bottom back in June 2017 was around 65 Billion USD.

Would the price get back to that again?

Anything's possible.

However, the price would more than likely find support around the 97 billion USD.

So this slow grind will continue until the price tags the area of support where the weak hands cry uncle.

Or perhaps it'll be fast and brutal so that we can go back up.

It looks as though there's a wedge forming so it shouldn't be long.

Last but not least, the declining volume is consistent with a correction even though it's a 90% hit. This is a good thing, some of the tokens / coins have volume that doesn't even show up compared to a few months ago. Everyone is holding and not selling other than the traders trading among one another.

I can't prove this, but I have a sneaky suspicion that when January 1, 2019 rolls around, a bunch of new money is going to come in.

It's just a hunch though.

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So in ending........ Use critical thinking and think for yourself.