Hey Bitcoin, please get out of the comfort zone!
Ever since I have heard about cryptocurrencies and installed Gravychain on my phone I am checking on prices not only daily, but multiple times a day. For a couple of days though it seems that the crypto market is somehow stuck between 215 and 222 billions of dollars. I don't know how it got nailed there, but it sure looks like. It's over two months since it entered this boring trend if it can be called a trend and doesn't seem to get out of it. The prices of almost all of the cryptos are a bit higher than a few weeks ago, but still nothing spectacular, nothing worth even looking at some days. It's like people can't even believe that there will be a bull market this year, after all. I can't believe that either and it's probably what we need "to taste" for 2018, after the massive spike from the end of the last year and the beginning of January. However, not everybody has the same attitude and perspective about that. I am constantly checking twitter for news and valuable info from the crypto space and some traders over there claim that their charts are telling Bitcoin is going to have a big move in the near future, but no one knows in which direction. Or they're not telling...
It's just that it's going to be big. The bias is of course towards up, as we all want to make some profits out of our investments, but there are still "voices" that see BTC at the $3,000-$4000 level before it jumps again. There is also the theory that Bitcoin is stuck to its $6,600 range while institutional money are accumulating on OTCs just to have what to sell when the hype commences. There's lots of theories, but who has the right one?
I guess time will tell. If it is though for the history to repeat itself in the crypto markets, as I wrote about in a few posts here on Steemit, then October 20 would be the time for the upwards movement to take place. Probably not exactly on the 20th, but something around that date. Fingers crossed for the history to repeat itself and to see a new and stronger bull run soon. I only mentioned BTC in this short post because usually it dictates the trends and it's also the point of reference when talking about cryptos in general. I am sure you got the point.
What do you think about the current situation in the crypto market, where do you think BTC and the rest of the herd will head from here? Bullish or bearish?
Thanks for your attention