Why is this market bearish?

Cryptocurrency Forum - Jun 26th 2017

  1. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    Close to $16 billion has been pulled out of the crypto market within a week. Is this a correction? Panic? Multiple speculative fears amounting to a lack of confidence? An emerging bear market? No one actually knows. This market is less than 10 years old. It's already gone through multiple growing pains. And all along the way we've seen huge market swings, ICO scams, hacked wallets/exchanges, but overall we've seen the common person make more money from crypto than any other legal investment out there.

    Only time will bear out what this market will do, but one thing is true. There's already too much money and infrastructure in place for the overall market to fail. There will be more booms and busts, just like any other market, but the potential for massive investor gain is still very much a reality. My advice: wait it out.

    http://www.trustnodes.com/2017/06/26/combined-market-cap-digital-currencies-falls-100-billion
     
  2. evo

    evo Admin

    Joined:
    Apr 2017
    From:
    Seattle
    Crypto:
    BTC/ETH/XRP
    The market is fine... it's just consolidating, and it had to, given the increases over the past several weeks.

    Both Bitcoin and Ethereum have strained blockchains, for different reasons, and they need to get these things sorted out in the meantime. And there is a correlation with the market swinging in the same direction as BTC and ETH increase/decrease.

    This is a great opportunity to be increasing your cryptocurrency positions.
     
    LigaPrivada and V4Vendetta like this.
  3. coinboy

    coinboy

    Joined:
    Jun 2017
    From:
    toronto
    it's probably just people cashing out, people are making thousands and millions from cryptos

    they have to cash out eventually, i mean most people who got in years ago, have made a lot of money, it makes sense to cash out and buy a house and car

    if i made a milllion i would cash half of it buy a home new car, and just keep the rest, whats the point of dieing a millionaire
     
  4. V4Vendetta

    V4Vendetta

    Joined:
    Apr 2017
    From:
    Texas
    Agreed. As more Millionaires are created, more money will leave the market. What will keep it stable is new money coming in to replace it.
     
  5. Andy

    Andy

    Joined:
    May 2017
    From:
    Macau
    "Hoax Over ‘Dead’ Ethereum Founder Spurs $4 Billion Wipe Out"

    "The creator of the digital currency Ethereum, Vitalik Buterin, died in a car crash and insiders are selling like crazy—or so said the headline. It soon became clear the news, posted to notorious troll site 4Chan, was fake but it still gave the price of the currency quite a jolt..."

    More:
    http://fortune.com/2017/06/26/vitalik-death/


    It is also possible that the price drops are due to the companies behind recent ICOs selling some of the coins/tokens raised during their fund raising efforts for cash in order to build their companies and infrastructures.

    Whatever the reason, back up the truck and load up at bargain prices.
     
  6. LigaPrivada

    LigaPrivada

    Joined:
    May 2017
    From:
    Woodinville, WA
    Crypto:
    XRP/SC/ETH/FCT/BTC
    Remember when we thought May 26th was bad? :p
     
  7. LigaPrivada

    LigaPrivada

    Joined:
    May 2017
    From:
    Woodinville, WA
    Crypto:
    XRP/SC/ETH/FCT/BTC
    This gif is relevant...
    [​IMG]
     
    V4Vendetta likes this.
  8. evo

    evo Admin

    Joined:
    Apr 2017
    From:
    Seattle
    Crypto:
    BTC/ETH/XRP
    These are some wild swings lol
     

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