The market has been relatively bearish for last couple weeks. No real obvious strong trends or patterns on the technical analysis side. We've gotten higher highs and lower lows over the last couple weeks. It's really sort of been a shit show. It's been all over the place.
I get this gut feeling that it may be the calm before the storm. Now whether that will be a good storm that'll feed our crops, or a storm that'll rip houses down, I don't know. I think we may be in for some big growth soon, but the opposite is very possible. If we do see a dip soon, I think rebound will be relatively quick as there is too much happening for people to sit idle in this market at the moment. There is a lot of good news and releases coming soon like the bitcoin fork/system upgrades on August 1st (some say I believe June 24th now?) as well as Litecoin making an announcement that day as well. We shall see. Anyone else care to speculate? I'll go on record as saying I think we will see decent gains in the next month across the board with people becoming possibly more skeptical about all the new ico's and altcoins coming out so quickly. (dotcom bubble anyone?)
On the flip side Bitcoin could, and very well may.. drop before, during, or after fork/changes, but if it does will probably regain in next couple weeks. (Luckily the people at Bitcoin Unlimited and Bitcoin Core have been starting to come to agreements and compromises, which strengthens the network). Given that most cryptos follow bitcoin patterns, it may drop the whole market, or conversely could cause an inverse increase in the rest of cryptos, or at least the trusted ones, as people look for places to place their holdings while they wait for the dust to settle with bitcoin.
So much to think about, this will be an exciting couple of months for the cryptosphere I think. As always, if it drops, I won't be too concerned because we know the market will bounce back. Saving my cash at the moment to make purchases during that time if it happens. It's always good to plan your options before they happen so you aren't scrounging to catch moves on their tail end. Also I keep diversified so I am counting on the whole market to go up as opposed to relying on bitcoin, ethereum, or only a few alt coins.
I'd love to hear from you all on what you think may happen!
