The Great Crypto Psychological Wars
Unless you've been living under a rock, you may have heard of the volatility and drama in the cryptocurrency markets.
And most recently, many of the top digital currencies, have seen prices decline as much as 60% over the course of two weeks. These same currencies however have also grown over 2000% since the beginning of the year.
And this isn't just ETH, but STEEM, Doge, DASH, and more have had unprecedented growth.
Now, with Segregated Witness coming for Bitcoin, fear, uncertainty, and doubt are at a recent all time high.
So what is going on?
Well, like any speculative financial market, the precise rational of price fluctuation is mostly guess-work.
But there are a few recent events, albeit actual events, or fabricated ones like the many we see on a daily basis.
Examples include:
ETH Flash Crash, Vitalik's dies in car crash, Mark Cuban's opinions
Some investors are afraid BTC could hit $0.00 - which sounds unfathomable, but when you've already seen 60% drops, anything truly is possible. And why not sell now, to rebuy later?
Bears vs Bulls
If one thing is for sure, it's that soon after August 1st, there will be a rally.
But no one knows when that will start.
For example, why are we so quick to believe that ETH and BTC are so entwined ?
They have completely different uses, and we know multiple cryptocurrrencies will be needed in the future.
What do you think? Buy?? Hold? Sell?
Let me know what you think. I know that if STEEM goes very low, I'll be buying as much as possible!
