These Declining Prices Wont Last For Long

China continues to crack down on miners which means they need to up and move to other locations in order to keep business flowing. I highly doubt that these miners will simply close up shop with millions worth in inventory they will most likely move production to new areas. However that physical relocation will take time a few weeks to a month or two till operations start running again.

What does that all spell for you the person wanting to get at the low?

NOW, is the time to stack. These miners and companies will be coming back online but the delay will cause a down turn in the markets as many of these large miner firms will need to close up shop, need cash on hand to pack up and move the mining equipment to a new area. That means deep selling of any crypto assets they have in particular Bitcoin.

We call know that bitcoin still drives the price of all other cryptos. While this shouldn't really be the case because of large projects such as Binance and Ethereum having taking over large sums of market cap bitcoin still holds it's dominance (even though that was turning it wasn't enough for when this hit)

That doesn't mean however we are going to all new lows. In fact our targets are pretty much in for where we should be at now. After all that dram and hype. Bitcoin and Ethereum prices to me seem to be back to a new "normal"

This new normal means we have found our bottom and currently everything is rebuilding and reworking from what we learned in this last rally. The things that kept the rally from going on and on because of things like high fees, not enough throughput on the blockchain. Side chains such as polygon, polkadot, cardano not being primed and ready for the rally and coming in too late.

If these block chains can correct these issues that put a cap on the overall growth of crypto we should be primed for one very bullish late Fall and winter crypto season.

This is a MUCH faster turn around than when one we saw in 2017 and when it comes I expect us to hit that $100,000 - $150,000 per bitcoin level so many were hoping for and though would come.

*This article is for entertainment purposes only and not financial advice

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