Bitcoin and Altcoins Pull Back From Psychologically Challenging Levels

wahyue (40)in #cryptocurrency • 7 years ago

Recent run ups the latest in Bitcoin, Ethereum, and other altcoin. Bitcoin had exceeded $5,000 short-term pullback, followed by 8%. Etereum almost made it to the $400 but soon run out of steam and was down 18%. Litecoin also have a great week, but stopped just shy of $100 before turning back to the position of $1980 Dash managed to produce a $400 before going down 20%.

Tuur Demeester, Editor at Adamant Research, pointed out that a number of currency down from a dollar amount significantly psychologically.

https://twitter.com/TuurDemeester

Mainstream acceptance, fear

The market for crypto that shows the great influence of consciousness. As mainstream investors, hedge fund managers and the public get acquainted and invest in areas that are not expected to increase substantially, it should be expected.

However, the fact that prices of most of these coins has increased by thousands of percent over the past year remain in the minds of most people. Along with the increase in large scale, prices tend to be stable for some time before investors and the public feel confident enough to continue to improve the position.

By Jon Buck
https://cointelegraph.com/news/bitcoin-and-altcoins-pull-back-from-psychologically-challenging-levels

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