Well, it looks like the red from yesterday followed us into today. I was thinking about the state of the downtrend today, and I asked myself "are we seeing a shift from people being more interested in blockchain technology than an $8,000 coin?" I'm not really sure. I don't blindly follow anything and I question just about everything. I mean the value of something is only worth what people are willing to pay, right? That's how it goes with anything. I'm not sure we know yet the exact value of a single Bitcoin. That value has yet to be established.
FUD OF THE DAY
Well, we still have a lot of regulation hanging over our heads. In addition the the SEC regulation fears, now we have the following to add:
Bitcoin flash dropped below 7,600 today. Heatmap showing red, red, red. Headline reads: Bitcoin Price Faces Bear Indicator Not Seen Since 2014
Some people may not consider some of these FUD, but I think anything that happens that causes people to feel like crypto is some sort of a ponzi scheme, falls into FUD to me.
HEATMAP (CREDIT TO COIN360)
DAYS BIGGEST GAINERS
DAYS BIGGEST LOSERS
TOP 10 COINS BY MARKET CAP (CREDIT TO COINMARKETCAP)
BITCOIN DAILY CHART
RESOURCE OF THE DAY
Telegram Channel: Crypto Exchanges News (lists which coins are coming on which exchanges) https://t.me/ExchangesNews
So, to sum up today, lots of fear, showing in red, in crypto. I seem to recall not too long ago we were in this same position, sweating if BTC would hold support levels. But if you've been through one (or more) of these times, you remember how great it is after the down period is over. The alts will skyrocket again and we will have runners and pumps. Hang in there. This is crypto. Maybe step away from all of the red and check out some weird websites, like http://www.pointlesssites.com/. Spend time with family, catch up on some research and come back again tomorrow. One thing you need to remember is that we have come a LONG way since this time last year. Look at the prices. We need to stop focusing on the immediate and look longer term. Blockchain is in its infancy stage..it has a long way to go. Buy and hodl.