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RE: My Theory as to Why Crytpto-Currencies are Correcting Downward - Thoughts?
I certainly see the bot situation as a contributing factor but the market's been due for a correction, bitcoin's gonna be down until the scaling situation blows over and ethereum's clogged network and the dump on GDAX all contributed to what's going on. You're right that there's still a lot of smart money in crypto and hopefully this is the bottom; I think you're right but only time will tell. Thanks for sharing your ideas!
Thanks for the reply. That is a good point regarding the scaling issue and clogged network. At least that shows high interest, which should at least maintain the price. The dump on GDAX might also be an indication that profits are being made, which should keep the investors coming back for more and ultimately driving up the prices.