Saturation? Or The Silence Before The Storm?
I don't know about you, but I'm used to a lot more news from the crypto land. The last few days (let's say, the entire last week) were surprisingly silent.
If you leave apart the cohort of new, "revolutionary" ICOs popping up like popcorn on a Friday night, and the usual bashing between Bitcoin Core and Bitcoin Cash, there's not much going on.
The prices have been hovering around the same values for about 10 days now and there's not a lot of movement in the market. If you compare the trading activity of the last few weeks with what we had during December last year, you'll suddenly feel like watching a silent movie after seeing Jumanji, the 3d version.
So, what's going on?
Is it that the market is saturated right now? And by saturation I mean a mix of regulatory pressure, overwhelming media FUD and the disappointment of not seeing 10x returns anymore.
From a certain point of view, it looks like this.
But from another point of view, it looks like something is bound to happen. I don't know what and I have no reasonable way to explain the foundation for this conclusion (because there isn't one, obviously) but I feel like a turn is about to happen in the markets.
I am also very aware that this may be just a personal filter that I'm putting between "me" and "reality" and, in fact, everything is going great.
But just out of curiosity: do you have the same feeling?
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
It does seem as if things have quietened down a little.
But here is the interesting thing...... if the big boys are now openly getting involved in crypto you can bet they will start pumping it. And not for a quick profit and then flee - they can do that anonymously.
no, they will buy into the game low - not just coins, but the infrastructure around trading the coins - i.e. the people who made the real money during the gold rush years were those selling shovels.
Then they will start promoting alt coins and their value so more and more people start trading in them. They get to make money on the trades and on consulting fees.
That puts them in a no lose situation.
I've said it many times, but it is worth repeating, 2018 will be a big year for crypto.
Well, Goldman Sach's FUDded enough to get them in on Polo for half price.
I'm sure JP Morgan is figuring out their next move.
The banks basically see that the FUD can only last so long if they want to profit.
But, my gut told everyone that this month would be dull and that we would see something more interesting come March. So, hold on to your hats, the in like a lion!!
this is in the news out like an hour ago: https://www.marketwatch.com/story/bitcoin-and-ether-are-both-bubbles-says-goldman-investment-chief-2018-02-27 as usual putting down BTC
In other words, crypto is doing good.. :)
Trying their best to FUD, since most people don't know about the Circle buying Poloniex deal.
Please Let it be a good month because I want to invest on bit coin.
Don't limit yourself to BitCoin, there are other coins that will rise faster.
Yeap, there are a lot of promising altcoins!
I have no idea what will happen, but agree we will eventually see 1 of 2 things. A drop off a cliff or a rocket to the moon.
My feeling is that we will need to see a BTC run before new money comes on to start a season of alts increasing in value. I'm trying to set-up my portfolio to be ok for either scenario.
I don't have a reason either, but ask yourself this. Do you feel BTC is a stable currency?
See!! Something is going to happen. Hopefully it's a good something.
Yeah it seem a storm is imminent as crypto world never stays quite so long. All it will take is something/news to trigger the storm. I have a feel, may be some big news from Ripple camp...
Yeah silent times these days. Since you are comparing ICOs with pop-corn and you have mentioned Jumanji, can I guess that you just went to cinema?
Something like that :)
Since I don't know for sure who should I ask about this who can same time answer me, do you know if hardfork 20 has been implemented?
I have been noticing that also, I think mainstream banks and other financial institutions also governments are planning an all out assault on cryptos, I see a lot of financial companies saying they won't be allowing investments in crypto using their channels.
depinde ce fel de furtuna, poate fi una in care sa distruga tot sau una care sa faca sa creasca tot:)
I think the market is oversaturated with cryptocurrencies. I've heard a lot are failing now.
Which is okay, exactly for the reason you mentioned.
The trick is determining the ones that will stick around and be successful. I like bitcoin and steem for sure. I'm not sure which other ones will thrive. Maybe Litecoin and maybe Ripple?
I really hope for the sake of you, me, Dragos and everyone here that Ripple won't.
Anyway, there is no "trick" involved, so isn't any way to determine it in the long run. E.g. BCH doesn't seem to disappear, even though it totally should, while Decentraland MANA is still struggling to stay within the top100.
It seems like the banks were involved with ripple to help it stick but I'm not sure.
By "trick" I meant skill and maybe some luck. It never hurts to be lucky. lol I signed up for the free Manna coin. I think that is different but I'm not sure.
I think it is a bit of saturation. Especially for us here with Steem nothing exciting has happened with the prices really for the most part too.