MY TWO SATOSHI on WHY IS MARKET FALLING!?
I somehow feel that last three weeks were full of bad crypto news. Some of them where real while the others were made just for spreading FUD. The result of all of this is that whole cryptocurrency market is more than $300 Billion down from its peak. That is big fall of 1/3 in 3 weeks, but not unusual for this market.
Even we could find a million reasons for this, and again not a single one of them alone would be the only one to blame for the market going down I would like to offer my two Satoshi on this subject, what I think that is one of the layers of the complex market behavior.
I predicted at the beginning of December that entering of big Wall Street boys on the crypto market officially through the futures could bring us more volatility, more FUD spreading and other sneaky trading tactics. In my opinion that is exactly what is going on right now. You got to realize that these groups have centuries of experience on how to play on the market and make money on it. The crypto game is changing and we can accept it or leave the game.
To be clear, I am not saying that there are no problems around cryptocurrencies that need to be resolved. There are plenty of scammers, false ICO projects aiming to rip us off, unfair practices and hundred of the project without real value. The market is still a baby and needs to go through its puberty and fight with all childhood diseases to become stronger, less volatile and in some areas more regulated, but from inside, not outside.
Just to give you one example of what is going on let's look at last news - USDT! There is the same story about Tether for a few months circling in crypto related groups. Everyone could read how Tether business if fishy and untransparent, and how they have not proven for several months that can back up their coin with USD. That is old news, that "someone" is using at the certain moment to make FUD when he has benefited from it, not sooner, or later. All of us, traders and investors in cryptocurrencies, have to realize that this strategy is part of the big game trading, except that and use our brain when making decisions on how to deal with it and how to act on it.
I listed here crypto articles from one channel (Cointelegraph) in last ten days, and as you can see every day, you can find some FUD news. If there were nothing on that day that could affect the market in a bad manner, then they would recycle some old news or make important news from something trivial, for example, "The Island of Bali is banning crypto.". I mean Bali, really important, common people.
- 30.01.2018. Facebook decided to ban all crypto (Bitcoin included) ads. https://cointelegraph.com/news/facebook-bans-cryptocurrency-ico-ads-because-of-deceptive-promotional-practices
- 30.01.2018. US regulators are attacking Bitfinex over USDT. https://cointelegraph.com/news/bitfinex-tether-get-subpoenas-from-us-regulators
- 26.01. 2018. Hackers stole $534M of NEM. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet
- 26.01.2018. Masonic elite is spreading FUD from Devos World Economic Forum. https://cointelegraph.com/news/twitter-reacts-to-crypto-fear-mongering-at-davos-wef
- 25.01.2018. South Korea regulations on crypto. https://cointelegraph.com/news/south-korea-intelligence-creates-task-force-to-oversee-local-cryptocurrency-exchanges
- 24.01.2018. Russia on regulations. https://cointelegraph.com/news/russian-bill-draft-requires-govt-officials-to-declare-crypto-assets
- 23.01.2018. South Korea regulations on crypto. https://cointelegraph.com/news/markets-stir-after-media-re-reports-s-koreas-anonymous-trading-ban-known-since-december
- 22.01.2018. Bitcoin will fall on $1000 prediction. https://cointelegraph.com/news/bitcoin-to-drop-as-low-as-1000-this-year-wall-street-cio-predicts
- 20.01.2018. The Island of Bali on banning crypto. https://cointelegraph.com/news/bitcoin-under-increasing-scrutiny-on-island-of-bali
I will now try to make one more prediction. In the next month or two, after all, shaky hands sell their tokens and lose their money, and daily volume goes down we will see the explosion. The crypto market will go so high, so fast that big number of small investors will miss the chance to buy cheap, and there will be much more big investors holding coins in their hands. Maybe I am wrong on this, but let's wait month or two months and see.
Nice prediction! I hope you are right, I'm HODLing tight.
Found a little mistake in your article:
"The crypto game is changing and we can except it or leave the game."
Should be:
"The crypto game is changing and we can accept it or leave the game."
Feel free to check out my blog @maxdigi, this way we can support each other. I could really use your help, for the last 3 days I was unable to upvote, comment and post!
Cheers
maxidigi
Thanks Max for pointing my mistake... I will check it ;)
Well about the false ico. Is just too much. I hope your predictions comes out that way.
It's always been volatile with no guarantees, as far as a lot of the million ICO's and such that pop up two words, "Buyer Beware", just because someone is slick and shilling it around doesn't mean much
It is emerging market backed by whole new tech it must be volatile for few more years...
Sneaky Ninja Attack! You have been defended with a 7.00% vote... I was summoned by @kriptonoob! I have done their bidding and now I will vanish...Whoosh
Thanks fort hat info. Hope you are right! I just got some BTC, ETH and LTC over the last few months, and don't plan on bailing out yet. I'm going to HODL .
Good post! You are spot on, I am confident that the market will recover and reach its ATH within a few days. Resteemed :))
Few days :) That would be something...
I'm thinking mid-Feb but generally agree. Recovery will be swift