The cryptocurrency market continued its correction last week, with the overall market declined 17% to $295 billion. Bitcoin dropped 17% to $7,600 while ether declined 28% to $520.
The sentiment has shifted drastically in the last 2 weeks when Bitcoin could not break through the uptrend. More and more investors are predicting the market to continue dropping. We’ve seen predictions of bitcoin going to $4,000, $3,000, or even $2,000.
The trading volume is getting lower each week. Coupled with the price decline, it means that there just aren’t many buyers right now.
Tom Lee of FundStrat created a BTC Miserable Index that tracks the sentiment of the market, and the index shows that the market is very miserable right now. The index also shows that if investors put money when the market is miserable, the return has been the greatest.
We’ve been using the quote from Warren Buffett over and over again to “be fearful when others are greedy and greedy when others are fearful.” Right now, we believe the market is fairly close to the extreme end of fear. As difficult as it is to be a buyer right now, we believe it offers a lot of potential.
CryptoBunnies: China's Xiaomi Launches CryptoKitties Knock-Off: https://www.coindesk.com/cryptobunnies-chinas-xiaomi-launches-cryptokitties-knock-off/
Coinbase gets e-money license in the UK: https://techcrunch.com/2018/03/13/coinbase-emoney/
AirAsia Is Building Own Payment Platform, Looking Into Launching ICO: https://cointelegraph.com/news/airasia-is-building-own-payment-platform-looking-into-launching-ico-says-ceo
Report: South Korea Could Ease Its ICO Ban: https://www.coindesk.com/south-korea-may-lift-ico-ban/
French Government to Create Flexible, Yet Safe ICO Framework: https://www.financemagnates.com/cryptocurrency/news/french-government-implement-flexible-yet-safe-ico-framework/
Since Embracing Bitcoin, Robinhood App Value Jumps to $5.6 Billion: https://news.bitcoin.com/since-embracing-bitcoin-robinhood-app-value-jumps-to-5-6-billion/
Articles From Crush Crypto
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.