Crypto Market has been going through an interesting season recently. Because of the Chinese FUD that's been spreading , Chinese nationals have been selling off cryptocurrency at a ridiculous rate. Almost every coin has been down 10% or more and bitcoin has dropped more than $500 within a span of a week. Crazy, right? Well, does this mean it's going to be a bearish market for a while or is it just a short dip?
Bitcoin and Altcoins have its ups and downs. However, I see the overall trend as a steady rise. There are always some kind of news that affect the price in a short term. This time, it only affected China but as you can see, the crypto prices have dropped globablly. I now know that China has big influence on the crypto market and that major news can fluctuate the market. Before actually seeing the price plummet down, I thought that a rumor couldn't hurt too much. Well, I was wrong.
Even with the drop though, I see the crypto market is in a bullish trend; by end of the year, I think bitcoin will be back on its plate at over $5000 and rest of the altcoin should follow along. This cryptocurrency market is not something that simply goes away over a bad news; it will grow into an economy where people could use decentralized services, free from the restrictions.
I am not a financial/crypto expert so please do your own research before making your decisions. I am not responsible for any actions that you take.
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STOPhey i just followed and upvoted most ur posts... keep it up ;)
Thanks man!