Cryptocurrency bears have had a field day since the price plunge. Every social media platform and even mainstream news services have been overrun with negative commentary as cryptocurrencies gave back 50% or more of their gains over the last few months. #-ad_banner-#Even the mighty bitcoin nosedived from nearly $20,000 per coin to around $6,300 per coin in just a few weeks. During the price crash, even avid crypto bulls started to question the wisdom of holding onto newly their minted wealth. What’s Going On? Being such a young market, there is genuinely no history to determine what is… Read More
Cryptocurrency bears have had a field day since the price plunge. Every social media platform and even mainstream news services have been overrun with negative commentary as cryptocurrencies gave back 50% or more of their gains over the last few months. #-ad_banner-#Even the mighty bitcoin nosedived from nearly $20,000 per coin to around $6,300 per coin in just a few weeks. During the price crash, even avid crypto bulls started to question the wisdom of holding onto newly their minted wealth. What’s Going On? Being such a young market, there is genuinely no history to determine what is normal and what is abnormal price behavior. One thing is for sure: volatility is the nature of the beast. The millions of new traders who entered the market during the massive uptrend loved the volatility when it was making 12-year-olds millionaires in a matter of months. However, once the volatility turned the tables on the bullish masses, all the noobs panicked, declaring that the bubble had burst. Fueled by the sensation-seeking media machines, the panic selling resulted in downside volatility soaring and prices plummeting. At the same time, those who understand how markets really work waited patiently for the ideal… Read More