Hi everyone at the start of first week of August. Today we are seeing bloody bath 🛁 on cryptomarket. Literally all the cryptos that I am observing are 🔴red. What are the reasons❓Here I give you few reasons of ⬇️knockdown:
- End of holidays - yeah, the investors are also humans and they might like summer☀️ so they can get out of markets to make their money safe, so they don't think about charts or take money for holiday trips (less wealthy ones). That makes market less fluent and lower the volume. They are back to work, they have families and children that go to school, so it's obvious they must back to making money. 😉
- The end of month, the end of weekend, autumn🍁 is coming, the new chapter of the book📑 must start. The time⌚ flows and as you know for sure the chart of any cryptocurrency doesn't stay in place (except BTC-e charts 😆), so the move has to be done.
- The ICOs are BANNED🚫 in China (CLICK for article) and also the thing is uncertain in the USA. ICOs were making a lot of hype for whole cryptomarket. Now we will lack some help from China.
Okey, but why the price goes down instead of rallying up❓The reason is quite obvious for me. The market for wealth investors look quite different than for those with less money and the strategy must be different when you have huge amount of 💵funds. The whale🐋 will first sell to test the market - if it makes resistance that he likes, only then he will buy lots and lots and drive the price to the skies. 🚀
Hoping for your answer guys 😉 cheers❗
Thanks for your outline @risingfox I'm just happy for the low in currencies I wished to buy :) Hope this worked for you as well.
Yeah, I am willing to buy some crypto after falls. :)