Does anyone know CPR? We need a defibrillator over here! Someone please call emergency medical services. This is a bloodbath!
The cryptocurrency apocalypse is upon us.
I've been tracking the trends in the market by analyzing charts, listening to the community and its subcultures. There's a lot of fear, uncertainty, and doubt being spread around and rightfully so.
Here are some notable mentions:
Most major currencies began their record setting bullish run in May 2017.
They hit their peak in the first two weeks of June 2017.
The past few weekends have been bearish seeing larger declines in price.
$40 billion has left the overall marketplace since June 2017.
Bitcoin's percentage of market share grows as the market cap gets smaller.
The August 1st deadline for changes to Bitcoin is an underlying factor.
Here's what I think is going to happen:
Major currencies will continue weekly declines leading up to August 1st.
Bitcoin's percentage of market share will continue to grow.
The marketplace will continue to see declines in its overall market cap.
Most major currencies will revert close to their price from the beginning of May 2017.
The market will stabilize around the middle of August.
Bitcoin will continue its long-term rise in price leading into 2018.
What I am going to do:
Continue to analyze data, and listen to the community and its subcultures.
Keep fiat currency in reserve to be able to purchase major currencies at a "discount".
Frequent Steemit.com because this platform is so awesome!
I sincerely appreciate all the upvotes, replies, and resteems of previous posts!
I am not a financial advisor so please invest at your own risk. I am not sponsored, endorsed, or otherwise compensated in any fashion by these sources, however I am a humble Steemian who wishes to bring forth quality content in order to add value to our community.
