The great digital currency bull run of 2017 came to a screeching halt in early June. Shortly after hitting all-time highs—bitcoin broke $3,000 and Ethereum $400—the party ended.
Now, almost two weeks into July, the picture is even less pretty as most types of digital money are firmly in bear territory.
The gurus are saying that this period is pretty bad but in my eyes it just tells me BUY BUY BUY ! What I have noticed since investing in the Crypto Currency market ANYTHING CAN HAPPEN at any time... Prime example the guy who held up the "Buy Bitcoin" sign at that press conference is now $15,000 richer just from doing that...
But back to the question, Is this the bottom ? The way I have been watching the trends I can not even be too sure but what I will say is I probably will never back out of investing in the Crypto Market I love the risk !
If you’re a skeptic, you can take account of remarks this week by the chairman of BlackRock who called price charts related to blockchain-based companies “scary” and said bitcoin and Ethereum are in a bubble. Conversely, you can look to recent good news such as the IRS’s decision to scale back Coinbase audits, and the lofty price targets set by Goldman Sachs, to think the crypto party is set to start all over again.
The only safe bet at this point is that cryptocurrency will continue to be a wild ride for investors for the foreseeable future.