MONDAY LOOK WITH SIDEWAYS MOVE
We are deep entering the second week of January. The market is moving business as usual. It is no change whatsoever with #btc no knowing which direction to take. This is definitely possible with the announcement of the hike coming soon for curve inflation. It is hard to see details after details the mindset of the holders remain steadfast. Yes value wise it is status quo, in the long run, it seems it will get worse before it gets better.
Understandable with the way things are. It seems the true support for BTC is around $40k for most part of the day. Supply and demand are holding BTC where it is. The sentiment of the market is rather pessimism knowing big investment can make a big splash in crypto ocean. As you can see Altcoins are the ones taking most of the hit lately.
Even our diehard #hive is dwindling down to 3130 satoshis. So far the price is comparable to BTC. Hopefully we do not see a $35k/BTC otherwise the whole market will adjust as needed. While everything seems worrisome for many, the core players are holding just fine. At least we need them to hold and weak hands will do their move.
Sometimes it is not really weak hands, it is just how the market behaves from seller to buyer mentality. Usually the buyer will hold tight until the seller bulges. Whoever wants it the move make the first move. Lately the sellers are making the move to clear their hands pushing the valuation down.
While everything is happening, one BTC is still one BTC. Just like one Leo is one Leo. Same thing for Hive. IF you have a lot more will be given to you. Usually folks with little tend to sell quick than the ones with heavy hands. I have seen many are selling within Hive ecosystem. It is healthy along the way providing liquidity otherwise it will be a stagnant blockchain and ecosystem to attract newcomers.
There are some decent news. Bill Miller betting big on crypto. Time will tell how many Bill Miller we have out there. These days it is more like an accumulation phase for crypto. He mentioned investing in BTC is common sense since there only be 21 million ever existed. I think this is the major use case for BTC. Fix amount is the selling use case. For Hive it is something else. It is more like the door to WEB3.0 with a taste of social media with everything that comes with it.
It is not just crypto moving sideways, the traditional market is shaking up and as you know companies will declare their quarterly numbers going forward. The Fed with plan to hike. Inflation talks. It is a pure mess. Finance does not move well with mess. Sometimes the same mess pushes the market. Weird it could be. January itself could be lost if this week doesn't show other signs than the ones we are seeing lately. This is part of the deal. Just brace and take care of the dip.
Posted Using LeoFinance Beta
