Bitcoin: °Testing the Bottom° or Tanking?
It's hard to tell. There's a little rogue line of crypto FUD code in my brain that tells me the impending Aug. 1st deadline will start tanking Bitcoin prices. Perhaps that is triggering whales to profit take? Or maybe money is flowing out of bitcoin and into alts.
People like to cite popular media coverage of bitcoin as a huge factor for why it has been going up in value and will continue to, which has been contributing, sure, but I think we will be seeing a pullback in new investors in the coming months. Which might be good, and bad. People inherently have short attention spans, and once Bitcoin starts getting less 'interesting' to them (i.e, not skyrocketing in value every single day), the less tech-inclined newcomers will start to fall off the bandwagon.
I know, I know, I just sound like I'm FUD slinging. I blame the weekend and having more time to build anxiety about it all during the weekend. On Monday these trends will start going up slightly again, but mark me, August approaching may very well bring a decline for a little while. Bulls, trample me if you must! Haha.
No need to sell the Crypto-farm, however. The coin crops you water are the shiniest.
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Patience....it's not an elevator :-). Look at the up and downs of a stock like amazon the first 7years....you would get sea sick
That's a good point haha... This is just what happens when I have too much time on my hands 0_0
All good man.....don't worry you will get your action soon. I am not sure if good news is bad for many.....hmmm.
It is the usual weekend drop. Relax and enjoy the bumpy ride.
It was rebounding man, relax
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