Will this sell off be like all the others...
We are currently dealing with a sell off after a massive bull run in the crypto market, but can this sell off end faster than all the others. I dont believe soo. I think it is innate in human nature to take profit on such a speculative asset. More negative news will come out about crypto and more people will take profit. I personally dont mind people taking profit because it helps me out with my cost basis. The levels we are seeing bitcoin at and even ethereum are levels we wont see ever again
That sounds crazy but when these crypto slowly start becoming apart of everyones daily life, the valuations for the massively adopted crypto will be outrageously high compared to the hyperinflated dollar.
The more use case we find for cryptocurrency the more relevant it will become toward society. Currently we are in a situation were crypto assets are still very speculative and is not apart of society. Many use cases are coming out but they still have not emerged in our society. That is why i believe this sell off will be like every other sell off that occured this year. Get prepared to see low levels but dont freak out when it gets to low, be happy to see a correction.
Dude, just look at the RSI, this happens every time we get away from the RSI, its correcting and will correct hard. Look at my blog. https://steemit.com/bitcoin/@embomb701/bitcoin-correction-imminent
every single time RSI got away we corrected back below the line, why would this time be any different?
Lol i agree with you but people seem to believe that we are going to shoot staright up to the moon without any correction. RSI is a good indicator, i as well like to look at the 50 day moving average. Thank you for pointing that out though.
My pleasure friend, following!