Feel like this over the weekend?
Unless you have been living under a rock the last few days, here's what just happened.
- Bitcoin price drop of ~$500 in one day and
- Mass sale on Altcoins, many +50% off & most are still highly discounted
So, what's going on?
Waves (or more appropriately) tides of capital have been moving into this space at an unprecedented pace over the last few months.
What we saw over the weekend was a big adjustment of capital back into fiat currency. This ebb and flow is a natural part of our world and when increasing inflows happen (without any breather) an adjustment like we saw over the weekend is to be expected.
In fact in just the last 3 weeks - market capitalization has almost 2x!
If you haven't noticed - everything has been going up. Even the stupidest and craziest altcoins nobody should be touching.
The Good News...
This recent dip in the market has only set gains back by 1 week and already looking to recover. It's important for all those invested in this space to realize these dips are to be expected and even anticipated - especially after such a long run without taking a breath.
What's the Forecast?
Sunny with a chance of showers.
As individual investors, corporate investors and mostly likely soon government investment starts to make it's way to the cryptoeconomy, market capitalization will continue to increase again pushing altcoin prices up to new levels.
The summer forecast looks sunny with intermittent and occasional summer downpours. In the meantime, keep calm and trade on :)
If you like this post I'd love your feedback - comment and resteem :)