Hello dear Steemians,
After month of inactivity, I am back here. What made me to make this post was the situation that is happening to the crypto space. As we see, most of them follow the downtrend of Bitcoin but there are still few which are green.
What's next???
It's an interesting question but in my view and experience, the downtrend is connected with upcoming holidays. Technically whales (those who have high investment in cryptos) convert their crypto into fiat in order to spend it for this season and also demand for crypto would have decreased a little bit because of holidays. Higher supply with lower demand means lowering prices.
How long will it continue?
Bitcoin's price is $3776 right now with -11.43% compared with the price of yesterday. That's massive decrease and so, I think it will continue for the next days as well. But people who wanted to buy cryptos, they have a great chance now to do that. It can increase demand and slowly, we will see the uptrend while the holiday season ends and major cryptos must see the bullrun.
Desclaimer!!!
So, that was my personal view to the crypto situation and I am not a financial expert. Please, do your own research while deciding to invest in any cryptocurrency. Thanks for reading and please, share your thoughts with this situation of cryptocurrencies.