During the last weeks the cryptocurrency market proved to be very volatile: driven by the negative performance of Ethereum, which went from $300 in the late June to $134 on July 16th, the majority of the coins lost between 20% and 50%. Panic made people fear cryptocurrencies and many investors decided to sell their coins: this caused a chain of sell orders which made the market cap go down (from over 110 billion) to 60 billion dollars.
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I though the market was recovering when I saw this - https://steemit.com/cryptocurrency/@benlearns/a-market-in-recovery a few days ago, Then the market went way lower. I don't think the market will fully recover until after August 1st, until then it will keep going up and down, and hopefully STEEM will go down to $0.25 - $0.50 so I can buy a ton, because I think it will be worth $10+ in a couple of months to a year. Just upvoted and followed you