Hi traders! we have entered in to the last month of the year. However, we are being welcomed into the month with a bleeding crypto market. Well, all the same. The market is still dropping very hard as we keep seeing increase in supplies than demands. So I was thinking, has the bear market started? or is this like a kind of deep correction, What's the plan there? Is the market trying to flush out the weak hodlers?
Yes! because I see everyone shouting, "sell now before it gets dipper and you regret why you didn't on time". Sounds like a good advice doesn't it ? Of course it isn't bad to sell on time to secure profits so you could buy more at a lower price, but if you ask me, I would say; you probably too late to sale except you had bought at a more lower prices than what it is now. So why selling when you did refused to sale at the peak when prices where at $125k and more, why now?
The of level fear that has hit the market is extremely on the high side. People keep saling like as if everything is truly going to zero. Am looking at Zcash (ZEC) as prices keep dropping drastically like as if the price is returning to $34 . Currently, price is at $329 price territory, dipping massively from $740 to $329 losing 55.5% to bear volatility.
And at the moments, it seems like we are not yet close to the bottom, are we? Well, the way I see, it seems like ZEC will only hold strong support when it drops to $115 price territory. This is my own view so do your research.
Am also looking at BTC, price is at $86k territory, A pushed up from $84k price level. Am thinking we are still going down, and if price should break $80k price territory, we sure going down to $75k price territory. I think there is no need to panic as many do. Prices are been discounted greatly. From what I see, I think Bitcon might drop to $55k price territory. So, keep buying every dip and you will be surprise what that will be in the next bull market.
Crypto market as a whole is bleeding, prices are falling, fear and greed index at 20% as at the time of writing. While you are complaining, another person has been craving for this moment. If we do not have times like this, new whales will never be born. Cheers friends and welcome to the month of December!
