Cryptocurrencies price drop is not because of Goldman sacks rumors, Its bears last breath

Bitcoin has lost $1,000 in the past 48 hours. Yes that is the volatility you signed up for when you entered the crypto trade game. Hope is what most of people in crypto world trading have. Not right now even from the beginning. “The digital currencies continued its downward slide on Thursday, following a report that Goldman Sachs is scratching plans for a cryptocurrency trading desk” Really? Do you believe that such headlines are going to take the hope away from the crypto market?
The price of ethereum had fallen by 13 percent in 24 hours, while Ripple’s XRP token had seen its value dive by 6 percent and bitcoin cash dropped by 12 percent during that time. Yes the prices gone down the way you can not even imagine, but it happened at least two times this year and it went up again when the bears were gone.

The point is that GS was not even in for the crypto market yet that the rumor of it going out makes crypto people scared of a dark future. Crypto is encrypted and anonymous, many criminals and non-criminals and governments and billionaires that want their money transactions hidden and secure are in crypto, in many cases they want to cash out cash in, and the numbers in many cases are pretty huge, not a couple of hundreds, millions and billions. Many of these types of huge transactions can trigger a bear market to expedite and go crazy, but it is just a small short term bear that may contribute to a longer trend. So when the bear market end the short are out and triggers can make huge changes.

Nothing has been changed. if you go through the news, you can really find a trend of bad news about the fundamentals of blockchain and crypto market, other that that its just bearish. No bad trend and no surprise struggle is for example for Ethereum, but the bearish signs scare the shorts and they just get out as fast as they can, like what is happening for the ICOs cashing out their ETH and helping the bearish trend so ETH has fallen like crazy.

After all the last breath of the bears are going to be gone and just small bull sign like ETF for BTC or ETH can make the market bull again. And maybe this bull is so strong that is never gonna give it back to the bears in 2018, cause the bears are exhausted.

Tags: Technology, crypto, cryptocurrencies, crypto market, eth, etc, btc, bch, prices, bull market, bitcoin etf, etf,

Mohsen Daemi
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