Where to from here?
Most traders look to the Bitcoin chart for direction as to where Crypto is heading as a whole. When looking at the daily it would appear that Bitcoin has a lot of support at 6k and that it could easily sit around these levels before beginning a new bull market.
However one should keep in mind that the total market cap of all Crypto assets is more important than market cap of Bitcoin because Market Makers can and do move their capital between the different currencies.
Please view this chart for total Crypto market cap:
https://coinmarketcap.com/charts/
You can see that after each rally total market cap drops incrementally more and the data from the last four days in that chart indicates a much more bearish picture than the Bitcoin chart would indicate.
To me it appears that Bitcoin's market cap is being kept up artificially through the sell off of alts.
Many are looking to increasing market dominance of Bitcoin as an indication that we are heading into the next bull market. Is this what the Market Makers want us to think?
If Crypto is to enter into a long term bear market is it not in Market Maker's interest to manipulate it as much as possible to make it appear that we aren't? If we are on a long term decline this will result in a massive loss of profitability from trading fees and margin trading.
Can Market Maker's artificially induce another bull run? It would be in their interest to do so but can they? The last rally appears to be artificial so I would answer that I think this is probable. However they will want to accumulate at lower levels so it will be a balancing act for them between profitability and accumulation.
Looking at the data the outlook for 2018 is bearish.
However one should keep in mind that the total market cap of all Crypto assets is more important than market cap of Bitcoin because Market Makers can and do move their capital between the different currencies.
Please view this chart for total Crypto market cap:
https://coinmarketcap.com/charts/
You can see that after each rally total market cap drops incrementally more and the data from the last four days in that chart indicates a much more bearish picture than the Bitcoin chart would indicate.
To me it appears that Bitcoin's market cap is being kept up artificially through the sell off of alts.
Many are looking to increasing market dominance of Bitcoin as an indication that we are heading into the next bull market. Is this what the Market Makers want us to think?
If Crypto is to enter into a long term bear market is it not in Market Maker's interest to manipulate it as much as possible to make it appear that we aren't? If we are on a long term decline this will result in a massive loss of profitability from trading fees and margin trading.
Can Market Maker's artificially induce another bull run? It would be in their interest to do so but can they? The last rally appears to be artificial so I would answer that I think this is probable. However they will want to accumulate at lower levels so it will be a balancing act for them between profitability and accumulation.
Looking at the data the outlook for 2018 is bearish.
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