Black Friday for cryptocurrency? May be not, but..............................
Hey Steemians
So not quite a "black Friday" but nearly all cryptocurrency have had some value wiped off today even as much as 10%, so true to form after a decent increase in the last few days now the mini crash.....
This is making me wonder why? If you have read some of my previous posts you will see i am new to steemit and cryptocurrency so i am calling on the steemit community if anyone has an insight into the current drop in value.
All comments welcome :)
Thanks in advance
I am somehow sure, the market sentiment is driven by bitcoin price for almost all alt coins including Ethereum. A significant drop in alt coins on Friday was just a reaction of the dipping bitcoin price. Bitcoin price is dipping for a few reasons like scaling issues and uncertainty of a HF. Once there is a clear picture on the scaling debate, bitcoin will gain its positive momentum again.
Some other technical analysis by Goldman Sachs can be found here:
https://steemit.com/bitcoin/@shrirang/goldman-sachs-michael-novogratz-bitcoin-set-for-a-bull-run-to-usd3915
https://steemit.com/bitcoin/@shrirang/goldman-sachs-why-criticise-when-they-turn-out-right-all-the-time
Interesting read on both articles, i hope the predictions are correct 🤞
i think after this drop, we will have a bull run since this market has had a ton of exposure recently
Hey @cryptotraderx that is what i am hoping for 🤔
If the price drops buy buy buy!!