Here the market is going south
As of now, after the market had seen an unprecendented rally to a total MARKET CAPITALIZATION of 180 Billion $ it is now dwindling down again just as it has 6 days ago where you saw 10 Billion Dollars vanishing within 10 minutes - Blitzcrash.
Since then the cryptosphere took huge shock announcements from China. Not only did they abandoned ICO´s the rumors are that they are seriously debating whether to ban cryptocurrencies in general. In October it is said that BTC CHINA the second largest Crypto Exchange is about to shut down its services at the end of september 2017. So only 2 more weeks to go. Most of these rumors are what they are- rumors but for the time beeing they do signal very bad news looking forward on the map for cryptocurrencies. UFF that is going to be a bumpy autumn ahead for the cryptosphere.
Today the market took another big dive after not recovering from its earlier crashs of the last two weeks. So as there seemed to be a good start for September it might as well stands for the beginning of a major midterm downtrend going over into a Bear Market like 2014.
So with all these news and the overall sentiment in the Cryptoworld that there are are no real support lines for Bitcoin before 3000$ it is likely to go even below that mark just by the domino effect as more and more people want to get out of the market fearful to get burnt.
But of course there is nothing really to worry about when you look at the BITCOINS PRICE HISTORY that is characterized by volatility along its rise. Everytime it sees these huge inclines it also experiences huge backdrops.
I wouldn´t necessarily speak of bubbles bursting and so forth favorably I would go for a more positively connotated term of adjustment. Meaning even though the fundamentals of BITCOIN haven´t changed; the EXCITEMENT about the recent PUMP´s in CRYPTO took a overboarding direction to now were not longe sustainable.
Current MARKET CAPITALIZATION 15:11 BERLIN: 117.905.832.930 $
THE LAST CRASH TOOK THE MARKET BACK BY 50 % from 120 BILLION $ to 60 Billion $ so something to think about. Maybe it is now time to envision the 90 Billion $ mark as a possible bottom.
Where do you think the downturn is going to stop at?
As of always thank you for reading, commenting and resteeming my content and stay CRYPTUNED!! I also wouldn´t mind you donating whatever amount the informations seem worth to you. Here are my addresses :
♥ ETH: 0x3483889ce1b7e2f8c01313cf9464064b93163ec0
♥ BTC: 1Dcui9ULMxUpMfGTTQU8Gb2WfPn9orjFtS
♥ LTC: LNkfL4x8fkR9BaHBsNzRmTnheLzMTEhGY
♥ Dash: Xe9zHUQgxBR4Fsnj78oSGiFs53LDYBbbNo
♥ ETC: 0xce15aa840c952b1ae55446591372266a0f6e5e7a
♥ ZEC: t1QMLpmauWd88acksp5JYwRtg9VPQMpScfD
♥ DGE: D9XeQjwtwVxG8E4pPGvixMqF9EzUzvWDHB
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