Last week sure was an eventful one. For all of you newbies to the crypto trading space it may seem like the end is nigh, and that you should never have let your friends convince to invest into a big decorous Ponzi scheme.
Seasoned investors and fanatics, however, would have seen the market breaking some serious resistance lines and seemly undoing 2017’s progress.
What we need to all remind ourselves of is the cyclicity of the crypto market, We at Ethbits converse regularly with many seasoned crypto experts who are in fact prepared for this kind of market movement. It isn’t the first time and it certainly won’t be the last time we see patterns such as these. Knowing this, some individuals are doubling down on their bitcoin holdings remembering similar price action in 2014, where bitcoin suffered similar lows. Will Bitcoin bounce back?
From a trading perspective, and for all of you traders that shorted bitcoin all the way down and came back in at the bottom, congrats. We are sure we will see some green price actions as we lead up to Christmas with the traditional holiday bonuses factor coming into play. Ho Ho Ho!