RE: Market Snapshot - June 16th 2018

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Market Snapshot - June 16th 2018

in steemit •  5 months ago

I don't have a crystal ball, as you wittingly pointed out, but from my brief experience as a FOREX trader (around a year) and crypto enthusiast (around 2 years) I know that everything is possible.

There are many potential explanations for this bear market, but my personal opinion is that we may see again a bull run once the "institutional" money (read Wall Street) has filled the space to the maximum. Meaning when all the Wall Street players gathered as much crypto as possible. This, obviously, is balanced by the HODL mentality of "small" players, which may, or may not, hold (pun intended).

The last bull run validated crypto as a trading asset and big sharks want a piece of this pie. Price suppression, along with FUD and other tactics, are in line with their intentions to buy cheap (who wouldn't want that, by the way?).

So, when this balance will be reached, and "institutional" money will come to a maximum, price will start climbing and this second bull run will be an order of magnitude higher than the last one (as always with Bitcoin).

It's hard to predict when this will happen, though. I would bet 2 cents that this will happen sometime at the end of this autumn / beginning of this winter.

But don't trade based on my 2 cents :)

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Thank you for your answer. I take this opportunity to ask you a question: I have small amounts of BTC, LTC and ETH. Considering that in any case they follow all the trend of Bitcoin, does it make sense to diversify or focus on the main cryptocurrency?