Why Have Crypto Markets Dumped Again?
Another week, another dump. Ethereum, EOS, and VeChain, all in pain. Just when the crypto community was thinking a recovery could be possible markets take a big dump once again to disappoint.
Wiping out all gains over the past few days, markets have slid back below $200 billion and are looking extremely bearish again today.
Bitcoin has lost 3% on the day dropping it below key support levels to $6,295. BTC made a breakout from its rising wedge pattern resulting in a slide of over $200 in three hours or so. Ethereum as usual has fared even worse wiping out all last week’s gains and collapsing 9% on the day back to just below $200. Technical indicators suggest it could fall further back before any rallies can be expected.
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Because it probably was a bull trap.
I guess cryptomarkets need a catalyst to get out of the bear market. The market is waiting for really good news from regulators, ETF decision and overall market acceptance.
Well Steem got a boost, which is nice... Still these last few months have showed that 6000,00 USD is really the bottom for BTC. So actually that is great news. We sometimes get a little too anxious in this very volatile, new market.
My dad always said to me: Only calmth will save you!
;-)
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