Positive Sentiment
I clearly remember the chain of events in 2017, a crazy year that will go down in history. The growth of bitcoin in valuation was so extreme, that it finally became an asset no one could truly avoid talking about. Because of this, the typical manipulations of markets, the typical dynamics that have been and are still employed in the traditional markets come out to play.
Specifically in the world of cryptos we tend to use a somewhat silly language to refer to them. When a company or a bank for that matter is talking poorly about BTC, we say they are spreading FUD, but when they boast about their crypto solution, we call them shills, and the over enthusiastic people who jump in, we say they are "victims" of FOMO.
As new as the terms could be for someone, the sentiments and the reactions are as old as apple pie. The traditional markets work in the same ways and possibly always have. You would not have to watch the wolf of Wall Street to confirm this, but of course, the film is highly recommended.
Sentiment drives the markets, always has, and always will. If people believe things are getting better, then they do, if most people believe the world is about to end, then, those nasty red candles start to color our screens.
SEC and it's role
As much as I constantly talk about the incoming regulations, and how they are somewhat unavoidable. The rhetoric coming out of our governments is just as important as any law that they are considering. In other words, they can with verbal statements dictate the sentiment of speculators, and thus create the swings we all see.
There is a particular article that in my opinion is completely worth the read, that to me indicates precisely what I mean by shifting tides.
All of the sudden we have a new SEC commissioner who is pro crypto? What does that tell us? Obviously, since no laws have been passed, technically not much. But again, I go back to my point, that article is an indication of sentiment swinging back into positivity.
Not financial Advice
I want to make that clear, because I don't wan't anyone to walk away from my writings as if I got the inside scoop or something. But, I believe we are about to go back up very, very soon. I would not be surprised if this started as soon as tomorrow. But, of course I'm not holding my breath.
I think everyone should make their choices, evaluate their priorities and such. But, to my brethren who have been hodling with me all the way down, I see you, we are almost there, and of course I salute you!.
