After yesterday the market looked bad, real bad.
The key factor of yesterday dump was Elon Musk tweet.
But then yesterday he changed his profile picture
And we all know what that picture means.
SO WHAT'S GOING ON?
Clearly the market is still very emotional, but less that it was a month ago, because more and more people are investing long term instead of short term.
You can see here where Crypto Banter explains what's going on (also in Miami, what I find more interesting is at 22:25 where he talks about the long term/short terms holders).
WHERE ARE WE GOING?
It's very hard to tell, the next 2-3 weeks will be crucial to see if this is a bullish or bearish momentum. We all hope is bullish of course but to have STOP LOSS is CRUCIAL and do not invest all your money in crypto.
The truth is the market is being a bit bearish for the last 40+ days, and you know in a market you always need a relaxation period after a long bullish period, so we knew this moment was coming.
The good news is today looks alright, and maybe next week will be a better week.
Let's relax this weekend and let's not overthink. The Crypto future is bright and this is just the beginning of the journey.
