There is no doubt BTC is in an uptrend right now! But the question is for how long will this trend last? Markets have cycles, nothing will go up continuously and BTC is not excluded from this fact. Right?
Being relatively new to the cryptocurrency markets I have always wondered if I started too late? And the answer is no, the technology isn't going anywhere a matter of fact it is just getting started. The fact remains though that the market is overbought. And needs some room to grow. Right?
So in answer to the question posed by my title... Is The Sky Falling? No, not now, but it will. It might be a quick visit downward (like on 7-10 and 9-11) or an extended downward trend (2013-2015). The truth is we do not know anymore than what the charts are indicating. I personally would not buy at our current prices to invest long term. Much of our current price increase is due to what I call "Fork Envy", folks just buying up BTC to get an equivalent amount of BTG. Allot of our current gains are not instigated by new money entering the markets but from folks closing positions on Alts to add to their BTC positions. It is not a bad strategy, you better believe I have Fork Envy! This newly made BTG will possibly end up right back into BTC further driving the prices up. But will it be sustainable? Is it all artificial gains? What does it all mean?!
I have no definite idea! Let me know what you all think? Volatile times we live in...Good luck.
Keep the Stop Loss tight,
Peace