Hi everybody, MS aka cryptogem here! Its been numerous posts since I've
begun a post like this.
2017 was a stellar year for the cryptocurrency market. The year which begun with a total market cap of roughly $17 Bn swelled exponentially to $830 Bn at its peak. That's an increase of nearly 5000%. There is a saying in the stock market-"When prices go up, they take the steps. When they come down, they take the elevator". This is a saying that is indicative of any market in general.
Precisely, this saying was realised to its fullest in 2018. Prices have been declining for most of this year, especially led by Bitcoin. Also it is generally observed when prices rise and decrease so rapidly, eventually there is a slowdown. Volatility is a cyclical phenomenon and that also holds true for cryptocurrencies, even though it is an evolving market.
Because this rise and fall has been so tremendously fast, any market needs to first absorb all the selling & manipulation before it starts witnessing buying again. That wave of buying will soon begin once some serious institutional money starts pouring in. Coinbase, (even though they are hardly my favorite LOL) are going to seriously kick-start this institutional barrage of money. That has started happening, but the full effect will only be realized by the year end.