[Video Blog #79] - Hard Fork Turns Soft and FUD (cryptocurrencies and cryptoassests)
Please watch my video for my perspective and review.
I am not an expert on the technicalities of this soft and hard fork noise although from what I understand it should all blow over hopefully and nothing really happens on 1st of August.
Every day I see more and more that alludes me to this position however I do feel we are still in the middle of a big bear trend that has not necessarily ceased yet as the major positions who influenced the initial March April insurgence and all those people who did really well are still taking their % of profit.
Below image is just speculation and is a screen shot from a group I am in. This is just opinion and not yet fact. Please show due diligence.
Why do cryptos charts move in sync and always look the same?
These big market movements are not influenced by ETH.
ICOs can affect ETH and the market at certain times (attention and market caps) however even then these new companies will not dump ETH as they will sell over extended periods of time to maximise price potential and average.
The market, at this stage of development, is influenced by Bitcoins price and some emotional factors however the market as a whole is influenced by some major groups or parties that hold 20%-40% or more of the entire market cap itself. They hold large positions in all major cryptos and you can see the ones that they don't care too much for.
They injected it all aggressively in March/April (approx 70 Billion minus normal excitement and energy) and then took it our progressively over the last 45 days (50%) via auto bots and specific trading systems. This is why the charts and certain cryptos all look the same especially on the down. 100% manipulated due to the small size in cap at this stage of the journey.
All by design.
Good news is we are on this wave although volatile and just need to read the play and game. Long game will win as this industry is design to succeed. Fast injection equals an extended bleed period with specific pumps and dumps to hide the retracement, manipulate the young inexperienced investors and encourage new money during the bleed (to maximise profits).
We may see 1 or 2 more such major "market movements" to attract mainstream when they are ready.
~Sebastian
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