Are We Witnessing A Few Green Shoots Of Recovery In Crypto? Probably Too Soon To Tell

in steemit •  4 years ago  (edited)

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If ever the term 'rollercoaster ride' was more suitable for our experiences in the cryptosphere the past couple of weeks have proven to be the big dipper experience. We can't remember a time when things have been so up and down with Bitcoin, at least not in recent history. It has been an extremely turbulent ride and one that still seems to have no end at this stage of the game. The picture just isn't clear enough yet.

However, we were most pleased to see plenty of green around today. It makes a welcome sight from all the red we have had to get used to over the past two weeks. It was of course great to see Steem up nearly 30% to $0.55, that made us very happy indeed. But what does all this tell us? Where are we going?

At the moment it's almost impossible to tell, that's what's so frustrating. We just do not know where Bitcoin will settle. It has crashed significantly but is the crash over? Again almost impossible to say for sure. However, the green that we have seen today might just be the first few tentative steps in some kind of recovery. We were expecting more red today but that didn't happen and Bitcoin has now increased 17%, currently trading at just under $38,000.

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Of course it's always encouraging to see Bitcoin in recovery mode but it may not last long sadly. Bitcoin is going through so much turbulence right now no one can say for sure that the crash isn't over. Some even speculating that Bitcoin might return to the $22,000 mark, it's not impossible that could happen but that speculation might just simply be FUD.

As we have explained before we are of the opinion that Bitcoin is being significantly manipulated by huge mainstream corporations and banks who infiltrated the space for nefarious purposes. However, the extent and control they have attempted to exert in the crypto space might not be as powerful as they had hoped. Let all of us grass roots crypto traders and investors do all we can to make sure they never succeed.

We will have to wait for now. This coming week will prove exceptionally important in determining if Bitcoin can demonstrate resilience and mount a comeback.

The ACOM Team

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A C O M

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Bitcoin being so much in the public eye is a double-edged sword... it;s great that there's more mainstream awareness of cryptos, but with mainstream awareness comes mainstream problems like manipulation by large corporate participants.

I guess we'd better just get used to it, if we truly want cryptos to be part of every household...

Amiga la verdad es que esperamos que el bitcoin suba, pero como bien lo dices quizás si o quizás llegué a cómo estuvo unos años atrás a 22.000$, dios quiera que no se llegue hasta allá y que en vez de bajar suba.

No queda de otra que esperar a ver qué sucede y que esos que quieren hacer que descienda en btc ,los inversores no lo permitan junto al mundo empresarial de criptomomedas.

Saludos amigos de @acom

Totally agree, I really hope it is a bullish behavior from now on, especially for altcoins. Btw i'm running a crypto website and blog where i talk about ways you can get free cryptocurrencies, especially via airdrops, if you want to check it out: https://darmowekryptowaluty.pl/

hello dear friends of @acom good afternoon
This is the worst time for what is happening to happen, in this last year and a half, many people have been unemployed and some found in cryptocurrency a help, as it is for some Venezuelans, with this panorama it is discouraging.
I hope that the bitcon does not go down more than he has done and that he has a slow recovery.
It is true what you say, the panorama of today is all green, I hope it is a bullish behavior from now on
I really appreciate the time you take researching to let us know your opinion.
have a prosperous week

Greetings friends of @acom.

I too am glad for the bullish environment that most cryptocurrencies have experienced today, let's hope Steem continues to rise.

Banks will have to adjust to this new financial model that is already in every economy in the world.

Alts coin are moving back fast when Bitcoin is still within the range of 37-38k today .. If bitcoin should beat the range of 40k before today runs out, that likely means we are back to a few day joy of green pasture

amigo,ojala el bitcoin no baje mas y trate de ir recuperándose lentamente para el bien de nosotros los venezolanos que tenemos la esperanza en las criptomonedas para poder sobrevivir ante esta situación,de verdad amigo lo felicito y agradezco todo lo que investiga para ofrecernos una información de primera que nos mantiene esperanzados en lo positivo,feliz tarde y miles bendiciones