Cryptocurrency market stabilized? Bearish, Bullish or dead cat bounce?
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https://news.bitcoin.com/bitcoins-price-correction-called-in-advance-by-analyst/
http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html
http://www.coinspeaker.com/2017/05/28/bitcoin-ethereum-headed-100000-thats-good-news-today/
http://www.newsbtc.com/2017/05/27/coinbase-ceo-claims-company-saw-40000-user-registrations-one-day/
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Hahaha, deeefinitely would not call this a dead cat bounce.
Depends some coins have recovered nicely others a have not. People bought the "discount" and the coin went lower.
The weird thing about this round of dips (CRASH!) was that instead of alts shuffling into BTC, raising BTC and lowering alts or vice-versa, BTC and alts came crashing down together. It may just be a market correction or some massive profit taking. I kind of see it as the natural ebb & flow of the markets. It isn't always going to be green, green, green, ya know?
Agree with what you say. There is usually a seesaw effect between BTC and ALTs. Everything went down 30%. If this was the stock market it would have closed for the day. Crypto doesn't have those kinds of rules and regulaitons so it interesting watching it liquidate that fast.
The entire market cap dropped around 20 billion USD, that's comparable to the drop during the great depression in America. SERIOUS BUSINESS! Luckily, it's just another day in the beginning stages of the crypto economy. What a show! haha