A Sea Of Red... The Market Continues To Go Down!
It's a sea of red whenever one looks at the cryptocurrency market these days. Pretty much all major coins lost in value over the cause of the last few days and it seems like there would be no end in sight or better said no new rally like we've seen it in December.
Of course it could just happen again from one day to another but in my opinion even the current consensus conference might not create any major fomo. People got cautious and tend to sell quicker than before as I guess that many fear further losses compared to their portfolio values back in December.
Sure it really hurts and I guess that pretty much everyone who didn't take any profits back then is quite butt hurt these days. But let's not forget that all analysis and prognosis out there are massively in favor for Bitcoin to reach new all time highs, which would mean pretty much the same for all other solid tokens.
That being said, I'm not really bearish on crypto right now but not that bullish either. I guess that we'll move sidewards for some more time between 7 & 10k USD before some significant outbreak into the one or the other direction. But after all, what do I know. It's all just pure speculation :P
What's your take on crypto these days?
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I also think that we're going to move sidewards for some time still.
The market needs to stabilize a bit. When crypto is able to be stable for a bunch of time, this will result in a lot of additional interest, especially from serious investors since they see that crypto is able to survive without being purely FOMO driven.
Exact same thoughts over here as especially the drop from 20k has shocked many and scared away new investors. With a stable BTC value around 10k the confidence might come back
Yeah, Bitcoin now has to show it can survive in the long term, and that's especially when it shows that it can be stable without any FOMO. I mean, that's exactly what gives Dollar and Euro the value. People believing in the price of it.
NOOOOOOOOOOOOO!
We are in an equilibrium pattern / tightening range on the weekly. This is something that will happen if you know anything about technical analysis. It isn't news, a conspiracy or anything but a pattern playing out until the range tightens to a break out or crash. All indications suggest you have about a month or two then fasten your fucking seat belts....
Thanks for sharing. I've smashed the upvote button for you! It's sad and shocking news especially as the biggest crypto event is going on.
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very sad!!
Yes, coin360 and coinmarkets today both show mainly RED in their representations. I agree with short-term traders it may be bad news but for those just holding for the long term, it is just a matter of being patient and wait for the market to recover. All in all, fundamentals are still very good for this industry.
I would suggest to forget about trading for a while as markets are very very dangerous at present time, just relax and wait for a much better scenario.
I think it's always just a matter of how confident one is with trading under current circumstances. I'm not a daytrader so will likely stay out of it as well.
My opinion remains the same. Which is that crypto is really unpredictable. It could take less then 5 days to get BTC above 10k or below 5k.
And as long as this continues there is from an economic perspective (almost) no business case where crypto could be really useful. Neither will it become mainstream like this.
So I keep hoping it will become less volatile one day. And more predictable and logical when the prizes go up or down.
not really sure what is fueling this, the upbit scandal is now resolved
I don't look for explanations in the news, as it's simply humans trading and hence emotions are involved
I have a tinfoil cap theory:
After consensus some smart (big) money is preparing to come. All the announcements, talks, networking and possible regulations built some trust for big boys to come. And they would not be smart (big) money if they enter on market prices.
That's true, smart money always finds a way to buy in cheap