Cryptocurrency is volatile.. Regardless of what everyone is saying, nobody could really tell how crypto will behave (unless you got enough bitcoins to influence a coin's behavior, but this is beyond the point here). Generally, speaking the crypto world is "RED" at the moment.
How "RED" is RED?
At a glance this is how the crypto market looks. Image courtesy of coin360.com.
From coinmarketcap.com, the top 50 coins have decreased in value as a result of the value of bitcoin going down. Seasoned traders would often attribute this behavior to FUD (fear, uncertainty, doubt).
Crypto has these moments, and it does bounce back.
History repeats itself
While this is the behavior seen, technical analysts would rather look at the numbers to see the trend. So what do the numbers say? It is better seen from a trend comparison.
image taken from : Crypto Buy Signals (Android Phone App)
The above is bitcoin behavior between the years 2016 and 2018. Since more often than not, history does repeat itself, what can we expect? If the trend on the graph is right, we are currently on the dip (RED), and bitcoin does rally from there.
History does have this uncanny habit of repeating itself. And if it does, in this case, we know the next few days will be a very good opportunity for hodlers, myself included. Don't fret, there is light at the end of the tunnel.
DISCLAIMER:
I am not a professional trader nor financial adviser. Please invest or trade at your own risk and due diligence. You cannot hold me responsible for losing money or crypto based on this post. The above is purely for informational purposes only.
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