Fundamental analysis of Bitcoin on July 24, 2018July 26, 2018
Now we can see the situation of the global overflow of funds from the alts’ markets to Bitcoin because of the increasing ETF Fomo on 10th of August. The attraction of the big investors and coming of a big amount of money is a big plus for the market development. There can be many nuances and the underwater rocks due to which the realization of this even can differ from the expected result. We have often met the syndrome of the missed benefit on the positive background, but often it has not given the visible result. The market is still prone to manipulation, the crowd can be deceived, the desire of the whales are always actual to sell expensive and buy cheap, the implementation is only a matter of time. Last time the price followed a downtrend within the same correction, which globally does not show its completion; the current growth is within the correction of the fall, but not in the upward movement after the reversal; it does not seem that there was a turning point. The news about ETF and the current bounce create the ideal conditions for Fomo’s increase, on this background we see an overflow of funds from the alts into bitcoin, which is why there is a continuous decline in the cost of various coins. Now an excellent time for the selection of alts with a good team of developers and a really useful project, they will definitely “survive”. When the Bitcoin pulls back and goes flat, the alts will grow, increasing their value by + 20% + 30% (in some cases possibly up to + 40%) from the current values. From a positive point of view, ETF is certainly a significant event, with a successful combination of circumstances, the market can receive a tangible surge of energy. If we compare the charts of the movement of the price of gold and Bitcoin, then we can only stand at the beginning of the formation of the next cycle, which will bring incredible growth.