The crypto markets are seeing red yet again, in a major way.
(Source: https://coinmarketcap.com/)
Bitcoin is down to around $7,200 with very few bounces in sight, which likely means that there is still lower prices yet to come.
This represents a drop of about 1.5%.
The altcoin market is taking things much harder.
With most coins down somewhere in the 5%-10% range.
(Source: https://coinmarketcap.com/currencies/steem/)
Unfortunately for steem holders, it is near the top of that list down 11% currently.
The entire crypto market cap now sits just above $300 billion, the lowest it has been in some time.
(Source: https://coinmarketcap.com/currencies/steem/)
The real kicker in all of this is that there really hasn't been one news event that is driving the weakness.
On the whole I would say the news has been a net positive over the past week or so, which makes the current decline all the more painful.
We have had several potential custody solutions come out, which should be one of the major hurdles into getting institional investors in the space.
Prices aren't really going up on positive news, but are going down significantly on negative news. Which leads me to believe that kind of price action likely indicates prices have not bottomed yet.
On days like today is a good idea not to check the prices, it will only get you down.
Go out and spend some time with family and friends and enjoy the holiday if you are here in the US.
There will be better days ahead.
The infrastructure continues to get better and strengthen while price continues to slide, that setup is a good one to be initiating a long position in.
Prices may not be ready to bounce back just yet in the next few days/weeks, but by the end of this year I would expect prices to be significantly higher.
Stay informed my friends.
Follow me: @jrcornel
Even Crypto needs a day off; resting up for a big rally this week 👍🤑👍
I expect the price of STEEM to be equal to the price of SBD. so easy to convert SBD to STEEM
Lol spent the day at the park fishing and then hit the grill.
Perfect way to spend the day. I am a big jealous about the fishing part... Catch anything?
😂😂 just some bass. Nothing big enough to call dinner lol
Large Mouth?
I recommend looking at pictures like this to make you feel better:
Haha that works as well.
well done!
if you like, claim some free token and earn more profitable coins for freee!
check up:
https://steemit.com/altcoin/@fux/3ahq5-don-t-wait-the-promotions-ends-soon
It's for your informational post sir....
but by the end of this year I would expect prices to be significantly higher.
I hope for the same.
First, this may be an opportunity to shorters.
And don't be so pessimistic, many indicators point to an oversold conditon and bullish divergencies, so expect prices to rise
Yes, there is that. I am not sure whether we are close to a trend change though or just a slight bounce. The fact that prices have yet to bounce at all off the lows probably means we aren't done sliding.
Ya, I think you're right, looks like a little drop right now after the Consensus 2018. Maybe there is some higher agenda behind all this, like if you see it from a huge whale investor point of view, you wouldn't invest huge sums if prices are to high, so it needs to be dropped first.
the very right advice of friends, "do not check prices for now". hopefully your estimates at the end of this year will improve the price will be an appropriate estimate.
In days like today just buy....
That may turn out to be a wise move... I bought a good amount of BTC right under $8k, holding off on buying anything else for now.
An ideal day of relaxation in a natural environment, fishing is a good hobby.
I am hoping that the holiday weekend was the only reason for the drop in price. But this is rather disconcerting.
This post was very accurate because I've been depressed since yesterday constantly checking the market. I'll let it flow trusting there will be better days soon.
Here it is, that trendline, being touched. Short term
Bounce and then lower.
https://steemit.com/crypto/@heyimsnuffles/snuffles-called-for-bitcoin-lower-against-the-trending-bulls-now-what-20180529t012019434z-post
Waiting for a little more dip before I buy more.
On days like that, I go for a run.. Keep it up!
I look at trends and try to ignore the price. Just like to keep informed to see whats going on.
It was a beautiful sunny day of a long relaxing weekend. It was a day spent with family for me and I hope everyone did the same! What Bitcoin? What down market?!