Crypto Market: Short-term pain – Mid-term gain

Samuel Oskys12/07/20192min
Bitcoin experienced buying pressure that sent the mother of crypto coins all the way to $13,000 but it didn’t manage to maintain its strength but proved once again how volatile crypto can be.

BTC is roaming around the $11,500 region and looks to be dropping even more which is currently hurting the crypto markets, as many Altcoins are now trading down nearly 10%.

Although the recent bearish movement, the latest drop may be a positive thing for most altcoins, as it may start another bull run in the near future.

Bitcoin along with other major cryptocurrencies are trading significantly low. Bitcoin is down roughly 3% at its current price of $11,480, Ethereum is trading down close to 10% and Ripple close to 15%. But will this continue?

The popular answer would normally be “no one actually knows”, but according to Alex Krüger a cryptocurrency economist, he believes that “the current crash could be the end of the downtrend for Altcoins Vs Bitcoin and be the end of the bear market for Alts.”

Don Alt, another cryptocurrency analyst believes that the short-term damage could lead to positive price action in the mid-term.

Alt ratios have been going up when BTC went down and vice versa. On this most recent BTC price drop, a lot of alt pairs went down along with it. Decoupling is a good thing for Alts and in my experience often leads to their tops/bottoms. Short term pain – mid-term gain IMO.”


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Samuel Oskys

Sam Oskys is a British born technology enthusiast, automotive lover, artist, author and editor. His inspiration has been his life experiences; his evolution and adaptation in society and life itself and as a result, translated these emotions into art and words within his work in this duration. Writing about trendy, technology, automotive and lifestyle-related material is what he mainly focuses on and he’s currently one of the authors for High Worth Citizen. Contact Sam at +357-22029786 ext: 6115 or by email at [email protected] for editorial related questions.

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