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Yes most of the people in the community want to get rich over night and what i have noticed is that a vast majority of crypto investors are flippers which means that they hop from one project to another regularly personally i believe in hodling if the project is real and quality products are developed.
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Most probably and im still positive the on the monthly charts btc is forming a bull flag pattern which may result in bullish break out that may result in new highs of the year, im expecting 16k to 18k so next 2 months are going to be very important.
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You have explained the issues very precisely i would like to add on the point of discount to large investors, whether it is an ico, ieo or sto the price of the tokens should be the same and their should be only one crowdsale not private sale, pre-sale and public sale, all these gimmicks by projects to attract big investors have resulted in an unstable and dumping market for the tokens of these projects because large scale investors keep selling at minimum profit the looser is the common or small investor who purchased from the public sale, so once we see one price for all in the crowdsale campaigns we will see stability in better performance by even newer tokens.
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This may not be the reason for dumping because if we see the other side icos also create demand for btc and eth because everyone that will participate will have to buy and deposit btc and eth so that creates demand and i do not see serious projects sell all their btc and eth holdings quickly rather they exchange them as required.
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Red tagging only will not do much as we already see many project and bounty manager accounts that are red tagged so we need something one step further like we should report such scammers and forum should ban such accounts that have not kept their word and deceived hunters in any way.
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Yeah it does bother every hodler but i think and hope this will be the last dip before big move up and full recovery towards previous highs and maybe new high will be created for atleast btc, for alts i think we need to wait more.
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Once we start to take responsibility of our decisions and actions i think we can easily overcome negative situations like fear, stress and depression etc. We have to learn to take the results and move ahead, we have to be mature enough to not just keep ourselves sunk into the failure we must learn the lesson and move ahead. This is what life is, this is what trading is, this is what investing is and this is how market works.
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I do not know why you are singling out ethereum market has been like this for all alts, just have a look at xrp, xlm, neo, ada, icx, nano plus all other quality coins all are struggling i know it is a hard time for alt holders i personally have eth and many other holdings but we have to be mature and support and hold our coins patiently for maximum profits later.
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I agree with you and with historic patterns of market behaviour we can expect real alt season only in next 1 to 2 years. Personally i do not see much chances of real alt season before that btc will remain dominating both pre and post halving and after few months of halving we may see btc settling down that is when we can expect alt season.
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I would just say that do not get discouraged by these market movements i know most people here want to see the prices growing always but realistically this is not possible and secondly if we accept your argument that eth has become old then btc should not exist by now which is already 10 years old while eth has just entered its 4th year. If you support eth and the underlying technology then donot despair it is going to be huge just have patience.
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No need to panic and i do not think that only xrp has crashed today if we check the market almost all the coins are struggling and are down and this is most probably due to sharp decrease in market volume so do not feel depressed just wait and market will be back soon.
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Overall market volume is decreasing from last few days which is effecting the prices of most of the coins negatively this may be due to people cashing out due to holiday week in most of the world as people celebrate Eid so im hopeful that next week volume will be back as holidays will end this week.
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I still optimistic about btc to break above as even with this fall btc is still showing a bull flag on longer time frame charts and also descending triangle which usually breaks up, i think next week will be important and it can decide the next big move of btc.
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Trading and investing is overall a game of patience, if you have not got patience then i fear you will loose more than you can make in this highly volatile market.
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I do agree with all your points but it is not yet easy to withdraw crypto directly to bank accounts in most of the countries around the world even now, atleast i know that it is not allowed untill now in my country but we do have a huge community of blockchain enthusiasts here so i think sooner or later it will be allowed but not now.
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Crypto for me is just on the holding phase due to global level rules and regulations being policised by major governments worldwide, as soon as crypto gets the green signal from majority of the world, it will become unstoppable and we will see mass adoption in no time and juat imagine the impact on its demand and price this scenario will create, i am a positive person so i see great things coming for cryto in coming months and years.
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Looks like you have probably posted a relatively older analysis as eth has already broken below 210 and currently at around 208, for me too it is a much deep correction than i expected because eth had reached 360 not a long ago anf then it corrected almost 50 percent to 180 which was not expected, personally i was expecting a small correction amd continuation of bull trend which was not the case in the end but nothing to worry about i will still hold my eth and keep supporting it patiently as i know its true worth is much more and easily 10x from here on is possible within 1 to 2 years for eth.
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It is actually a good and practical project with some services already but with what is happening with alts and tokens at the moment and increasing dominancy of btc continuously i would suggest to wait as it seems that alts are gearing up for new all time lows against btc. I am saying this because the most solid prohects like Ethereum and bat are drowning against btc so at the moment there is no buy signal but if you are a risk taker you can definitely buy now and buy some more if the price sinks further to average out.
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