Hi All, crypto sludge here.
Long time no see! right, sorry about that, life/work got me busy, and since i was fully in USD i felt "safe" to not check the markets for a while, and if you don't do your homework everyday in crypto, you will get #rekt.
So i fired up my sources and started to do my homework. And honestly in the end, all i can say is this : the tax man got his cut, now the people with the money want a new cut for themselves - all this price movement started just before US tax day, and when i look at the fundamentals, not much have changed from when it dropped to 6k$. Is it good? Is it bad? i am not really sure.
I am more inclined to think, that since the cryptogedon didn't come, tether haven't imploded and taken bitfinex with it, BTC didn't drop to 1k$ - none of the apocalypse scenarios didn't really happen and their chance of happening didn't seem to increase, so we are almost certainly going to see a repeat of 2017 sentiment. Will we break 20k$? maybe. I think that too many people with money saw the 2017 gains and want some for themselves, and since the game is still ON, I see no reason why it can't be re-fulled with the hopes of the people that missed the 2017 rally, or got in/out to soon and lost.
The human nature is predictable, the greed is strong, and in traditional financial world not much has dramatically changed, plenty of uncertainty there as well, markets are near ATH, interests rates are still low, possible conflicts are still possible.
Looking at the charts on the longer time frames only makes my bullish sentiment stronger. I think we got a rally coming and i am sure as hell want to be there for the ride, the tough part as always will be to figure out when to go ON and went to get OFF :)
Hopefully you will join me on this ride, i currently need a little more time to start analyzing again and build my new strategy for this year, but once i get something formalized, you will be the first to know.
Trade ON!
Crypto Sludge.