Hey Leo Fam,
A lot of red on the charts today. This was triggered by the revelation that the SEC would bring a lawsuit against Ripple sparked concerns about a broader action against the space. It's likely that these fears, compounded with the typical selling pressure exerted by the sellers during Chinese New Year have contributed to the red morning. There are still billions waiting on the sidelines for the start of a new Calendar year, so as not to hold new positions on the balance sheet for 2020.
While this is certainly not what I was hoping to wake up to this morning, the overall of the market remains bullish. Bitcoin has remained relatively stable and the 20K+ support continues to hold strong, and it is likely that the demand for ETH will stay relatively high, with millions locked up until the ETH2.0 network launch. So in the interest of spreading positivity this holiday season, I would venture out on a limb and say that maybe the cyberspace has given us a small gift this Xmas, an opportunity to increase our positions before a re-entry of further big money into the market in 2021.
Merry Xmas!