Traveling away from the market
It is not your duty on how an investor should spend his portfolio. The financial market is a two way thing; buy or sell, fear or greed depending on the side of the robe you are hanging on to.
While many are shaking heads in disbelief, it has been a juicy one for a few sets. Adding to that, why should one be certain about the market, it is meant to swing and when even considering how volatile the cryptocurrency ecosystem is, the matters get worse.
Some feel the market may bounce back this December. Nothing bad about that, who wouldn't want to see things in the cryptoverse back to normal. September's performance wasn't encouraging and yes, it carried no surprise. The surprising parts came in from October which was usually referred to as Uptocber. The entire space faced a historic liquidation and while some compensation market bounce back was expected from November, it was indeed far from reach.
In short, Bitcoin traded below 90K last month and you should know how this will display in the altcoins markets.
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It has been a ‘May day! May day!! May day!!!, altcoins have been hit, I repeat, altcoins have been hit. Will it trace back this December? First we have to analytically consider the month in context. It is December, the season according to my small research has always been a mixed market. It may, it may not. I don't think there are any big political activities that will be happening this time around. We concluded the US elections earlier months ago.
My core anchor here is, ‘it is Vacation time’ and after such market beating and battering, many whales and firms may pull in the breaks to enjoy their profit, for those who were selling off or to restrategize ahead of Next year for those who have seen a portfolio decline. Personally, I wouldn't mind going on sabbatical assuming I had so many things fixed, it has been one of those years where I have been involved in more than I had planned for.
Let's not expect much this December, if we can see a price preservation ahead of January, it will be a hedge. As we speak, Bitcoin just went nearly 85K this morning, it has been a sharp fall according to data from coinmarketcap. It is currently trading around 86K, something that has a caution sign for those who are planning to enter the market within a short range. If the bears succeed to pull this price down to 80K before the middle of this month, I feel the remaining two weeks may summarize Bitcoin at 75K or below.
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Up market, down market, both always remain an opportunity for those who can leverage. Maybe, just maybe one has to make those market decisions after the first two weeks since what the masses jumped into the cryptoverse for is mainly price swings.
How about the altcoins, exception of even the big holders, smaller investors will be causing what I term ‘cluster market effect’. There will be a reduced market particularly due to the holiday season. A good time with family and friends, travelling and so on means the Vice for cryptoverse. Some will in the process pull out some funds to help themselves in this season of high and demanding expenses.
Ethereum has followed suit with nearly a $200 dollars price depreciation from a few days earlier when it was trading around $300. The middle belt investors are mainly altcoiners so it is much easier to see how this analysis will play out. I have to say, let's just hope we don't just slag too much to unmerited price falls that will take longer time for a bounce back.
To conclude, let me add, one of the tactical places to find yourself is the financial market. Behaviors do repeat, records do break and yes, everyone here is looking for ways to make profit. There have been such situations since September when big players are taking some profit after years of hanging in there. As we speak, the top 100 coins from the source are displaying Red. Two weeks from NOW, much more will be unravelled.
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