Bitcoin is starting to show some fundamentals

omniloquent (59)in #bitcoin • 6 years ago

The dip has gone sideways!

Bitcoins prolific slide has seemingly bottomed out as the market has setled into a rnge between about $6,000 and $6,800 likely due to several factors. The main driver of these factors is probably the miners who need to keep Bitcoin above about $5,700 to remain profitable. We can also attribute this change to the fact that most if not all weakhands have been exposed and the market is mostly now HODLers and bots trading on the market creating the fundamental waveforms. Since the market has apparently found some support in this range many analysts are saying its only a matter of time before Bitcoin and the greater cryptocurrency market sees a new boom.

Waiting for a catalyst

The cryptocurrency market has been deflated as of recently due to many factors chief of which seems to be the fact that the market was only pusjed so high because of a few huge holders who cashed in and subsequently cashed out causing our current situation. This manipulation is the key reason the SEC has not allowed a Bitcoin ETF becaus ethere is verifiable proof that the markets are being manipulated which poses investors a huge risk. Thus the only true path to mass adoption of cryptocurrency is ironically the implementation of regulatory structures to reign in the risky behaviours of the market at large.

Regulation in places like the united states Russia and China will directly influence the direction that this emerging market will take. It is likely that as early as 2019 cryptocurrencies will start to see more cohesive golbal regulations. As more nations become aware of the uses of blockchains outside of its stigmatized history, there will be a growth in new projects as well as investment in current well developed ones. There is indeed much reason to be bullish on cryptocurrencies future since so much of the world has yet to invest and there are some big events coming up that could pus it forward.

The time to invest is now

When considering buying cryptocurrencies in a correction the first thought is usually "is this the bittom"? I say you shouldnt worry about where the bottom is because we are currently far from the top so you stand to make a killing. It's not hard to look at the market and be skeptical about some folks bullishness but times like now are when saavy investors are getting in, because they know its only a matter of time. The last real bitcoin bear cycle lasted about 14 months, I see that this market will start turning around towards the end of this year as Global uncertainty about 2019 mounts.