Bitcoin got out of the comfort zone finally, but in the wrong direction, while Steem looks like pegged...

in #busy5 years ago

Two days ago I wrote a post having the title about my wish for Bitcoin to get out of the comfort zone and it did... Unfortunately though it didn't went in the expected direction, as usual. It re-tested the $6,000 level or at least close to it at around $6,150 and now $6,300 seems to be the floating point. Again, the reasons for why it did that are multiple and everyone is taking a share from the opinions pie. Some say that the massive sell-off, if we can call about $400 a massive one, has happened due to a selling trigger coming from Asia, others think that it's correlated with the Dow Jones drop of 800 points that occurred recently while there is of course the possible situation of a whale or group of whales that orchestrated this minor crash just to test the ground, the players in the market and accumulate more cryptos.

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image source

Who knows what the truth is about this situation and whether Bitcoin will still have the strength to defend the $6,000 level that it held for good months or if it will finally get to $5,000 just to fulfill some prophecies. It's not only BTC that is suffering though, as coinmarketcap shows us. Ethereum is also struggling to hold a $200 price range, XRP bites with its teeth on an over 40 cents price while BCH is currently trading at around $450. All of them could be considered on discounts in my opinion and I just named quite a few bleeding in prices. Steem however hold its ground very well at about 82 cents and looks pegged between 80 and 90 cents, if I may call it this way so we can't say that it was affected too much by the sell-off.

Sign of strong hands in my opinion, that refuse to sell at those prices and better have that Steem locked on Steemit.
Now, although the market situation looks pretty painful I have to say that in my opinion this could be another buying opportunity for the ones willing to still invest in the crypto markets. I, for example, don't have any money left for investments, but for sure I would buy more if I would have. Now, how long we will see many of the cryptos at those low prices is hard to tell, but honestly I wasn't expecting this situation.

What do you think, is it the time to sell before the market goes even lower or a good opportunity to buy?

Thanks for your attention

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Yep! Btc was traveling sideways. It broke south. That's the danger of a sideways market.

Posted using Partiko Android

Looks like it is...

I think it’s an opportunity to buy

That's what I think also, but the way the market goes I really don't know for sure if it's going further down or that was the last dip, if we may call it that way.

@acesontop Thank you for not using bidbots on this post and also using the #nobidbot tag!

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