The Current State Of Crypto

acom (72) in steemit • 4 years ago

We have mentioned before in previous posts that the crash Bitcoin has experienced in the past couple of months has felt artificial somehow, as though significantly manipulated. With big money now involved in crypto it was only a matter of time until we started to see this type of manipulation in the cryptosphere.

The Alts are still barely achieving any type of recovery at this stage, while Bitcoin moves between $31-35k. Things are still very unsettled in crypto land and it will be a while yet before we see a more general upward trajectory across the whole board.

However, we are still confident that the big boys do not have as much of a grip on crypto as they had intended. The fact that Bitcoin has for the most part of the past month remained above $30k, sometimes surpassing the $35k mark, shows a resilience which proves the very many small time holders and miners have a lot of power.

Of course the Chinese endeavour to close in, control and shut down crypto activity in its country does not help things, especially Steem. There has been a lot of drama in Asia regarding crypto lately and the efforts particularly by the Chinese government are clearly having an impact on the crypto space. This also might explain why Steem has been hit hard lately, lets not forget Justin Sun is well established as a crypto entrepreneur.

The picture for crypto, especially the Alts, will remain a downbeat one for some time to come. It's a challenging time out there and a new pump isn't on its way anytime soon. Yet this is the ride we're on. Most of us who have been in the space for a long time know that the tough times are always soon forgotten when the good times arrive. As they will again at some stage.

The ACOM Team

A C O M

acom.uno


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4 years ago by acom (72)

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asif1234 (56) · 4 years ago

how are your dear @acom
I really like your post. You are a very hardworking and intelligent person. I have benefited from your post.

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jlufer (75) · 4 years ago

How are you dear friend @acom good afternoon
I really appreciate the information and your point of view. It is very true what they say, cryptocurrencies are being manipulated, there are many who want to see this panorama, there are those who foresee an even greater decline, it is estimated that it could reach US $ 22,000 dollars, so that it finally begins to rise, if Well it is true that bitcoin is fighting at the threshold of US $ 30,000, it is not unreasonable that it could fall there
Thank you very much for this information and your point of view.
I wish you all a splendid weekend

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silvertop (79) · 4 years ago

I have noticed that when we have a BTC "crash" the price of the alts stays depressed for a while.
When.....BTC starts to recover, it will still take considerable time before the alts start to rise.
You are correct, this is the Crypto ride we are on!
Save some liquid, Power up some Steem......We have something special here!
Crypto is here to stay😀

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adeljose (82) · 4 years ago

Greetings @acom friends.

Thanks for always showing an outlook on the cryptocurrency market and giving an opinion of what may happen, I am sure cryptocurrencies will recover the bullish period.

We must keep our hands steady.

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oadissin (73) · 4 years ago

Cryptocurrencies that have a useful purpose in the hand of the tokens Holders will certainly survive this downtrend of prices on all charts in the cryptospace.

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edgargonzalez (80) · 4 years ago

Good afternoon friend @acom who is well, the desire is very strong due to the refusal of China, God wants me to recover from this envestida. happy afternoon and success you wish from venezuela.

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curatorcat (67) · 4 years ago

I hope things don't deteriorate too much further... I had hopes that the El Salvador news — as a landmark use case — would have a positive effect and somewhat halt the bullish sentiment, but I guess it hasn't been significant enough. In truth, I am more concerned with the Alts like Steem than I am Bitcoin... still, BTC matters because it so often "sets the tone."

=^..^=

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elisilva05 (71) · 4 years ago

Greetings friend @acom, your information regarding cryptocurrencies is very important for some. hopefully there is stability. Thank you very much I wish you a happy day.

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rynow (71) · 4 years ago

The market is still vey unstable, but there is still opportunities for good trading, or just hold on until better times!!

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azianthony (53) · 4 years ago

Nice writing please vote for me

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pandora2010 (78) · 4 years ago

Greetings @acom, thank you for the brief but precise information about what is happening in the world of Cryptocurrency, although I am barely familiarizing myself with this type of topic, I perfectly understood your point of view and I know that everything can change in your favor of us.

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