You may have noticed that the price action in the crypto space over the past few weeks has been pretty bearish. There is a general sense of distrust and uncertainty with the space. It is of my opinion that the crypto-verse is going through a bit of a rough patch due to this one thing.
WEEK 18
Excitement
There is no excitement in the crypto space at the moment. Though there is technical progress made everyday with cryptocurrencies, there seems to be no positive, dopamine inducing sentiment that is cause for positive price action.
We can't expect positive price action if there is nothing to get excited over. With intrinsic value hard to calculate with many cryptocurrencies its a speculative market with no one really knowing where price will end up.
When the attention turns away from cryptocurrencies there are just a handful of committed followers out here keeping the price up. Volume is low and this has led to massive sell-offs happening across the board.
The light at the end of the tunnel
It seems cryptocurrencies trade on a cyclical nature. And I'm not counting out this space until we go through another year of trading. My target is Christmas this year. Will we see a massive sell-off before this point killing off the market? Or will we make it another 9 months and see a massive bull run again? People will get bored and want quick gains once again. Crypto is here to give those people just that.
HODL.
