Rebounce for Cryptocurrency?!

M
mikey82nl
https://crushthestreet.com/wp-content/uploads/2017/11/Bitcoin-Diamond.jpg! Will this week be the rebounce for the Cryptocurency market? In my opinion this could be a very good week for the crypto, because of the following facts: - Last friday we saw a sudden jump in the Cryptocurrency market. It has been said that it was the largest jump within one hour in crypto history. Considering the amount that was pumped into the market, it is mostlikely due to an institutional investor. And that could mean that faith is restoring for investors. However if one institutional investor is capable of this shift, I don’t want to know what will happen if this investor decides to reclaim his amount. However for now, the jump has been taken very well by the market. - This weekend the profits were held and the market even grew with approx. 6% during the weekend. The weekends before were mostly in red during the weekend and to recover after the weekend. Considering the growth during the weekend, I expect the growth will continue after the weekend. - Tax selling season should be over. It is said that a lot of crypto has been sold to turn the crypto into cash to be able to pay the taxes. This serulted in a downworth spiral. As the season is over this should not be a reason anymore to sell crypto in large amounts, which will be good for sentiment. - The news surrounding crypto is quit positive lately. The majority of news items on crypto has been positive despite of the news a couple of weeks ago. This again helps increasing sentiment and will do crypto good. So in my opinion based upon the above, we could have a nice week ahead of us in relation to Cryptocurrency. Please let me know your thoughts on this in a comment 🙂

Comments

daisysun
Thank you for expressing your view! I hope you're right.