It has been a couple of weeks now that the crypto market has been impatient to crypto holders and traders heading downside with absolutely no ups except recently like I just said this is a market that runs 24/7 all day, all weeks and no close for the market , in times like this seems a lot of people are tired of the market and volatility on the other hand because of fear and people exercising patience and waiting for the bottom is very low right now.
Another reason why the market is pointing down is the fact that the expectation this year as to Bitcoin rallying definitely NOVEMBER-DECEMBER, on the other hand, affected the market. A lot of people looked at the fact that last year like this time the market performance was not very bad and expected same this year forgetting we are dealing with the smartest market ever and so right now people look disappointed and instead of practicing patience they rather want to stay away because they feel disappointed or depressed anyway. People exaggerated saying Bitcoin was going to moon by now and by December we were going to see price sits around $50k or whatever and as at now, the price sits around $4k even testing $3k levels and is kind of look disappointing right now per the hypes and positive news they kept around it. But the fact of the matter is no one really knows what’s going to happen tomorrow , next week, or next month everyone talks probabilistically base on what they see and maybe they will get it right. As at now the week ended with a wick and we hoping as usual wicks indicate rejections and we want to see how the market plays out as we expect little upside.
I do believe the massive expectation and the current situation somehow constitutes to why markets are going down right now. Because usually a lot of people panic sell because they are afraid we are going to zero and they take their monies out in lost to put it somewhere. Market sentiments drive the market a lot as well psychology and looks like a fresh industry and so a lot people lack it. It does not surprise me that people are giving up on Bitcoin and crypto right now yes, the price drop sucks. And yes, it might be a while till it goes up again. But the news that that is circulating recently is extremely bullish. I still believe in this movement. I still believe in BTC and I hope this movement currently sustain.
I am Crypto Ras