How long do you think it will take for the overall crypto market to regain to previous levels before the correction?
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How long do you think it will take for the overall crypto market to regain to previous levels before the correction?
It’s tough to know how long this down-phase will last. My best guess is until May. That’s when we’ll have the big industry conference called Consensus.
The Consensus conference has typically been a period when we’ve seen a lot of new big money enter the space. In the coming days, I’ll go into what I think will be a big announcement at Consensus that will drive the crypto market’s next up-phase.
For now, be patient with the market. And remember how the tech space acted between 1990–2000. Every pullback&—no matter how steep or how long&—was followed by higher highs. I expect the same to be true in cryptos for many years to come.
But by that theory, the all time high at Christmas should never have happened, because the conference didn't take place then, and anyway it may have negative results. Big money getting into the market will make the market dependent on big money, which maybe isn't such a good thing...
Then again, some say the run before Christmas happened because of the Bitcoin Futures launch, and that this motivated the little investors. The futures weren't a big success, therefore the dump.
There's lots of theories. The only theory that truly holds is that human mass psychology drives the market, and that is only partially rational and largely emotional, as humans really have a very hard time doing logic.
So when you draw a logical conclusion from these known facts and theories, it is the expectations of the little investors mostly that drives the market, and you can see from the market cap that most have their money t the exchanges and get out of crypto and into fiat whenever the psychological shit hits the fan. IT IS THEY WHO DECIDE, but in the absence of free will herd animals follow the general herd impression and fear, in an out, in and out.
There's nothing else they can do, they must run in the same direction, and the on;y question to answer is the one above, and it should be "when will the stampede start?"
And you say "I know a guy with a pistol !"
If they all stayed, no conferences would be needed to motivate them, and the MASSIVE PROPHETS on steemit would be enough to drive the market to new heights...
And if herd animals had free will, the market would turn bullish after I write this, and keep going up forever tomorrow ;)
We need a closer guy with a pistol...