Like everyone knows the market of cryptocurrencies just boomed about 3-4 months ago - new investors, new companies want to use blockchain technology, new algos, new people who just want to hang out right there, big money invested on blockchain technology.. but what problems 'crypto-market' has got right now?
--- Bitcoin (BTC) ---
"Rising waves" which took bitcoin price to the very high level - after red candle/candles there was 2+ green candles (I'm talking about 1Day chart), but these "rising waves" are shorter (2nd is shorter than 1st)
Day after day we are more far away from 'main' trend line which is now on 1110-1125$ levels. How high we are? Look at 1Week candles and you will see what I'm talking about.
News from India and Korea, which normally will make few days of growth, now there was 1 green candle and another day was with red candle.
--- Altcoins ---
I think we have there a bubble but this buttle is just larger size and more likely drop on market cap won't be as big as some people would want (cheap dip)
When you look by a cold eye/blood/mind on top100 coinmarketcap... Do you really think that more than a half ot them will 'pass the exam' of time and will be used out of 'crypto-world'? For me best example is DOGE... - more like crypto-toy which not bring something interesting to 'crypto-world'
IOTA - I like that project and with Byteball I think in future these cryptocurrencies will be revolutional to blockchain technology.. but with over 1trillion$ marketcap with a project similar to Byteball in my opion it is pumping case. I willingly invest in IOTA and Byteball but when there will be bigger sellout I think that both of them will get a shard issue is how big it will be.
When somebody is 'later' and new to a cryptocurrency... will he/she invest money when the prices is really high? It's important when we want more growths.
"ICO-mania" - something that caused price growth on ETH... some of these projects (not only on ETH 'platform) bring something new, I know... but some of them has got let's say quite not clear plans of evolution, many of them are just not innovative.
Holiday time and relationship with btc price - When btc grows slightly -> it's good, when btc grows too hard --> it's not good, when btc price drops --> it's not good.. but holiday time should be just a indecision time for market.
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My twitter: https://twitter.com/CryptoWiesiek
Actually, when price drops, u can invest more..but u have to wait till the point where graph stops decreasing further.
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Thank you nick
Thanks for the information!
Good post