This has been a crazy week in cryptocurrencies.
For those new to investing in cryptocurrencies, this was not something you wanted to see, and for the more experienced it was another dip in the bucket.
That’s the way that being an early adopter goes.
Volatility and significant swings based on the news, updates, and anything else that can affect the market.
Although, we had the Senate Hearing which proved to be a bit of bullish news.
See while cryptocurrency fans, and the original cypherpunks, want the government to have nothing to do with cryptocurrency, regulation is coming.
And for major institutional investors, the clarity behind rules and regulations are essential.
Leading to why this meeting, while still talking about regulation, was so important for Cryptocurrency, and it’s why when @giancarloCFTC
said “HODL” the crowd went wild.
Now, what does that mean for today?
The Cryptocurrency Market Moves $100 Billion From Low
At its low, the market sat around $280 billion, and FUD was everywhere.
After, a slight bump from some positive news the market has reclaimed about $100 billion in value and is looking to clear the $400 billion levels that it broke in December again.
Where do we go next?
With emerging technologies, it can be great to speculate on what works and what will happen.
Although, no one knows and anyone who tells you that they know is full of shit.
That’s the truth.
There isn’t a clear answer; there are only predictions.
Even with Technical Analysis (TA), you are looking at upside and a downside, which can then give you two theories which then branch off to more theories, etc.
While the TA charter is more ready for what is to come, it still is a hypothesis.
We at GCA are bullish on the market, and these little bumps don’t change our opinion.
In fact, typically we are advancing positions in many different altcoins, to make sure we are fueled up and ready for the next run.
If Bitcoin continues this trend, we may see all-time highs, but it is going to be a slow and choppy ride with ups and downs.
Keep Calm and HODL On.