It looks to me like we might get a new low...
It didn't even come close to the previous high of the previous attempted recovery. That does not bode well. Of course, it's fully possible that it could bounce off that resistance line and go right back up to finally test that previous rather low high.
Yeah, anything can happen but I share the negative sentiment. I think the market will continue to be heavy for another few months.
My question is...if it does reach a new low...what will happen? We're already in August. If it takes too long to reach it's low, we might not have the whole December pump. Or if it does happen, maybe it won't be as insane as last year. If we don't have the December pump, will we have the New Years crash? Or will the pump be even more insane, and rise way too fast for everyone?
In my opinion we have plenty of time to for it to fall down the the high 4's let's say and then rally in the last few months of the year. I'll be super excited if we are above 10K at the end of the year. All this 25k talk from tv analysts is crazy. I'll bet anyone 100 steem that btc is sub 25k at year's end.
That's a scary bet if Steem rallies.
I think it's all up in the air. The talk of the insane BTC prices might just be enough to spike it up there. All the people being like "Oh! Here it comes! We're going to the moon!"