What is going on with Cryptocurrency
Everyone is talking about the going into the red, the blood bath. I though have been doing my own checking. I have noticed in random searches to various cryptos, Bitcoin, ether, litecoin, status, etc picked some that I like and then even steem.
Seems no one is talking about the connection between them, that is that when one turns, they, for the most part follow suit. Yet the consensus by the majority of the independent news and veterans of cryptos is that news on one sort or another is effecting this one coin or token. Yet, I notice that all the currencies are being affected by the same effects of one, and ALL rising at the same time? Yes there are always a few strays or stragglers out there that seem unaffected by the whole groups direction.
Now I want to express my opinion on the observance of mine that makes this different.
1. I noticed that ALL in March, April and or May began moving up at an accelerated rate at the same time.
2. They crash in unison.
3. this last time of a week or so, I noticed that they all were sinking.
4. Now I wake up and look at the charts, and low and behold around 9- 10 pm central time. they all began to have volume rising and then this morning, the whole as a group has began to rise, gradually into the green.
This cannot be normal. Unless they are all tied together financially, which I cannot believe. Or they are being manipulated.
I have seen this very manipulation in Silver and gold over the years especially since 2008. and continuing. There were official chart prophets continually going to their charts to prove that the prices were going to move in one direction or the other. I lost tons of money. Oh I still love and will hold on to what silver I have. But, my point is.... be careful. I just can't help but think they will bring down the celebration in cryptocurrencies and the party atmosphere that has everyone cheering on to the winners of the past few months. Don't get blinded.
Please comment and let me know how you feel about this ...
Maybe they have a unit central which is controlling them.my own opinion though
the market has been bullish for quite some time with many coins having more than 10X. I remember the marketcap as at last year was about 20 billion with BTC enjoying more than 60%. And then comes the ride with ETH going from at around $6 last year to $390 ATH. And stratis for example going from 0.005 to $10. We cannot logically expect the market to continue such bullish trend. The market will retrace. secondly, there is alot of uncertainty especially with BTC, Segwitx and potential hardfork, some investors would naturally want to peg their money with tether or cash out. So at this moment, i suggest the best thing to do is to divide your risk. Cash out at 50% of your investment and keep the remaining. The crypto market can be highly volatile and no one knows how far this trend reversal will take.
I agree with your details which I alluded to generally, but I still hold to that the banks or powers that be may have some new hand in attempting to control a perfectly honest system and attack it due to its' threat to their fiat currency based on no value at all.
Not a real surprise seeing as the market absolutely exploded over the past months. Still we are at a much higher level than before this explosion. This just a correction shaking out the weaker hands that got in over the past few weeks hoping to make a few quick bucks
I appreciate your comment and agree, but I still can't help but see the beginnings of what I have seen happen to the precious metals.
maybe a good time to buy
maybe... I'm still pondering about it.....