The crypto market seems to be going up by a lot but is this a trap? Two days a go the market cap of currencies was at $77 Billion and just in the past 48 hours it is up to $85 Billion. With all this money coming back into the market it's not surprise that the price of almost every coin as gone up but as the saying goes"what goes up must come down." Now I am not saying the market will crash again but it could be expected. In my blog which I posted a few days a go I talked about how people to buy low and sell high but they never do however, for the people who were buying at the time of the crash are seeing big profits right now. This could mean that people who already made a decent amount of money are looking to cash out before another dip which could cause a chain reaction. In the current market people don't consider the future. They buy and sell based on what other are doing which sets in motion a chain reaction where a few early buyers start to sell the new comers get cold feet and sell as well before the price drops more. This however is a bad practice for the market as a whole.
I am currently split at the moment between two main thoughts. Firstly as mentioned before the market could crash as people are looking to cash out and as we have seen in the past the prices drop each weekend however this might not necessarily be the the true because of my second thought which is the recovery. The market cap might have gone up but it still has not reached its previous price before the crash which was around $100 billion give or take; meaning the prices could go even higher than they are now. The question I ask my self is, will the people who got burnt return to the market and still try to make some profit or will they not return for a long time? We have partially recovered but be careful of buying coins which have had huge gains as they are the most likely to go down again.
