Anybody who knows anything about the cryptocurrency market knows that projects are struggling – prices and trading volumes have been dwindling.
It only seems to be getting worse and worse. The bear run is taking a toll on the market and the charts are blatant evidence of it:
Animated 2018 Crypto Market Percentage Price returns
A lot of red in the last few months
— Cryptokita (@cryptokita) September 5, 2018
Twitter user, @Cryptokita, provided an animated charting of how tokens have faired over the yeat and the outcome is grim. With the majority of tokens plummeting from green, and others falling away completely, it’s obvious that most tokens are seeing red at the moment.
Our recent technical analysis further shows the valley that has formed following a peak in prices. However, the red comes with a dash of optimism:
“A ship cannot sail without wind and trader cannot make money without volatility. In crypto, one seldom has to wait long before the breeze begins to pick up once again.”
Despite the dire charts, optimism abounds in the crypto community. Figureheads such as Barry Silbert, Tom Lee, and Brian Armstrong have been advocating encouragement, offering insight such as Amstrong’s claim:
“After many years of this, I’ve come to enjoy the down cycles in crypto prices more. It gets rid of the people who are in it for the wrong reasons, and it gives us an opportunity to keep making progress while everyone else gets distracted. We use the down cycles to build a strong foundation so we can thrive in the next growth cycle.”
If the optimism is something to go by, we’ll soon see a shift in the market’s direction from down to up and from red to green.