With Christmas and the holiday season less then a month away, the current bleed out of the crypto market will most likely continue into the new year. Christmas, and the effect of it, is something to think about when drawing all those technical analysis triangles on your charts.
While everyone on the internet is guesstimating the bottom and when the market will rebound, it's a somewhat safe bet that the retail crypto market won't change it's downtrend for another 5 or 6 weeks. At the absolute minimum.
Why? The reason is liquidity. The crypto market already lacks liquidity and Christmas will see even more of a drain on cash being fed into it.
Christmas and the holidays is an expensive time, so I doubt retail investors will pump money into the coin markets, en masse. Ain't gonna happen. More likely, there will be more of a squeeze out of investors selling off their positions because of their debts.
So more down turn in coming.
With coins so cheap, I will be saving up my worthless paper dollars and not going away this year for holidays. Preferring to stay at home and buy crypto in early January which I expect will be when the coin markets have finished bleeding out and have flatlined.
Anyway, just wanted to throw my 2c into the noise on the internet. I highly doubt that crypto will go green over Christmas simply because there would need to be a mass of people pumping holiday money into a falling coin market.
Which, as I said, is not going to happen.
Everyone will take holidays and abandon the coin exchanges. Which means we may see those Bitcoin $3k price targets that have been predicted.
Thanks for watching,
Brendan Rohan - Indie developer of 'next gen' natural medicine from Melbourne, Australia
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