You are viewing a single comment's thread from:
RE: Gird Your Loins: The Big Cryptocurrency Drop That's Going On Now
I think it was inevitable. The prices all went through the roof these last few weeks. This couln’t last. But I assume with prices being low(er) , people are going to buy in again, which will make the prices go up.
What bothers me is that (almost) everything went down. I was never like that. When Bitcoin price went down, the other prices used to get up an the other way around...
Yea there used to be a pattern when BTC goes up, alts go down and vice versa. And then there was the trend that when BCH went up, then BTC goes down, while alts may or may not have gone down.
I just think that the entire market was inflated when it went up so fast, that now, it would make sense the entire market went down. People who wanted to take their profits did ... and with the fear, of course, there are the people who sold when they had bought too high.
I believe the dust will settle and we shall have a quiet steady period from which people will slowly buy back in ... I don't expect the people to buy back in so quickly ... as people will cautiously buy back in ... allowing the price to rise slower ...
Of course, over time, people will have forgotten this craze, and I expect another exponential growth next year and perhaps this kind of bubble burst to happen again then.