Ahh don’t you just love the color red? It’s one of my favorite crayon colors, the color of one of my favorite fruits, and the color of these…markets? Wut? Now first off, let’s get something straight. Over here at theGspot, we’re not the types comment on cryto news (while currently commenting on cryto news, yeah…we know) because frankly, we feel you the reader, have plenty of other sources that will go in depth with analysis. We’re just here to make snarky comments about the news! With that aside, where were we? Oh yeah, cryto you okay dawg? You need a friend because you seem a little red? Now granted, there could be a number of reason for such a trend. These are just the main two we thought could be the cause.
Ethereum Flash Crash?
In case you’ve been living in the boonies, ethereum suffered a bit of a hiccup the other day with multiple reports stating that our “friendly” neighborhood whales made a big splash, crashing ethereum to as low as ten cents! Despite ethereum making a bit of a recovery, some skittish folk have lost a bit of confidence in ethereum and a few other crytos as well. Honestly, these are just a few individuals that have a little bit of cold feet and we should be seeing a bounce back at some point in the future.
Segwit Segwut?
Ah segwit you lovable/hateable bastard. Now most you’ve heard of segwit. Basically the point of segwit is to reduce the size of bitcoin block to make transactions a little lighter for faster transactions. That’s just us keeping the explanation simple in one sentence. As the big scary date AUG 1st is getting ever closer, people are starting to get a little worried about the future of bitcoin. Personally, I feel bitcoin and other crytos will be fine and hey, people are selling so I’m buying!
Conclusion
Look, the markets are gonna be fine. Just go have some Starbucks and just avoid markets for today. It’ll do wonders for the brain. As well leave your comments about why you believe the markets are super red today.
