Keep in mind that I smoke my socks on a regular basis
And have no clue what I am on about
And, highly hope that I am wrong
Last year, for the record price, we had
- good angle going up
- Increasing volumes
- RSI at a healthy level and showing upwards
Currently - Swallow angle going up
- Decreasing Volume
- RSI showing up, however at a much lower level
Further, as I have stated on a previous post, Bitcoin has in the past corrected by 90%
We could have that again
Human emotions is what drives the market, even the crypto market, and currently, everyone (most) is pushing the hype
Am of the opinion good things will come out out of crypto in future, just not sure that it will be as soon as we are hoping for
There is only so much money that will come in to crypto at this stage, and there is the possibility that much of that money is going into ICOs and smaller tokens/coins
This could also explain why bitcoin' S domination has dropped the way it has
This together with the way bitcoin is often presented in the main stream media, as if it's a matter of time it falls apart, could take the price of bitcoin lower
Hope we are at the beginning of a new uptrend, couz if we are not, it would be very bad for crypto, as all the hype will be shown as worthless, and prevent new people from entering the space, and slow down adoption
