Crypto Youtubers are running around like little chicken licken screaming 'the market is falling...the market is falling'. Well, this low liquidity market is going exactly where the big fish want it to go.
Image Credit
Although the market has lost over $38 Billion in value over the past 18 hours (at the time I am writing this) the majority of that has been from the Alt market.Bitcoin has dropped more than 4% on thin volume ..... having traded less than 5% of its marketcap.
With no new money entering the market and ICO's and new coin listings ocurring on a daily basis means the marketcap pot is getting spread thinner and thinner so unless something special happens in the near future.....
New lows and sideways movement is all that can be expected
I took a snapshot of the crypto numbers, market cap and BTC price for May / December timelines commencing from May 2016 to date.
What can that new development be? Personally I believe that the existing financial giants are already positioning themselves in the market while the challenge of ETF custodial issues are resolved. Once a solution to holding customer private keys is in place I think there will be a flood of new money into the crypto market and a real increase in overall marketcap will be the result.
Image Credit
Nobody in his right minds believes that cryptos are a flash in the pan... a passing fancy such as ostrich feather hats ... the underlying technology is just too important. So my advice would be to go out there, do your homework and take advantage of this flash sale now on.
I did !!!
Til next time ....
Namaste
