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RE: BITCOIN Double Rejection From $6,800 Leads Bears To Obtain Edge
I think the total downward trend in crypto prices can be explained with a number of variables such as new regulations and FUD from well known economic figures but In my opinion one of the bigger issues was the EOS launch. In many people’s opinion the launch was a disaster. I’m not gonna say whether it was either way, but EOS was the biggest ICO ever. There was a ton of hype behind it, and when the launch half flopped out I bet that discouraged more than a few investors.
It's the same pattern every cycle. Look at the 2013 boom with the 2014-2015 bear market...this was totally predictable. There's always some catalyst, but the result is inevitable. When markets boom, there's GOS in the market, when it's a bear market, all the news is FUD. The parabolic movement was never sustainable.