IN a Situation that we do not see in a while that the top 10 Cryptocurrency industry combined is down in Avg -8.18%
Is that normal? Correction ? or a crash that will continue.
The Pump
- With any form of Stock Market we listen so while of a term P&D "Pump and dump" ,well before couple of months we have seen multi millions of dollars coming to the industry as the Market Capital combined has reached around $115 Billion dollars for a certain point.
- As we have seen for couple of months the Bull market for Bitcoin and all Altcoin are growing very fast some of them x5 x10 and even x50 (Ripple per example) from the beginning of this year and it was very clear from March.
- Investors are coming all around the word to to enter this Market as they are entering with high prices that will bring the market more higher and the rises continue.
Well There is an End of this Bull Market?
Dump
As any investor in Stocks and other market knows that with every pump there is a dump. what Are the reasons ?
- Investors has done there job and are collecting profits from their investment. This will push the prices down and as long as it go down. Some fears and emotion are going on with Less experienced traders and Investors that will lead them to close their position or sell their coins will loss.
- Cryptomarket is not like other market, that are going up and down. With no specific direction. Bitcoin for example have a limited supply this limit can bring the price to a places that you couldn't imagine. Not because of Just bitcoin, it's reason of other Real paper currencies (USD,EUR.. ) are worthless over time, as they will have their price is depreciating over time. With a certain point it will be without value. That means the USD/BTC you need more USD for accumulating just 1 Bitcoin.
Hope my short analysis help many of you. If you would like to have more market analysis please Upvote so i can have more effort in cryptocurrency market.
Useful post. Thanks for sharing :D
Hi @ohamdache, I just want to have your attention for a petition about the acceptance of Bitcoin and Litecoin at Amazon, as can be seen in the link below. If we can take care of this, the crypto market will become much bigger and will be taken serious. Please take a look and share it to make this big. I know Amazon is one of the biggest companies out there but if we can collect thousands of signatures we will give a serious sign for acceptance. I if you don’t like the promotion of this petition please give me a call and I will remove it. I just want to make this big. Thanks in advance (upvoted your post).
https://steemit.com/crypto-news/@unknowncrypto/amazon-a-big-step-for-crypto-acceptance
Great post, this can give cryptos the mass adoption that it needs to replace the current monetary system.
Yes, it would be a huge step for cypto's if a large company accepts them as payments!