2018-01-22 Crypto Market Musings

Well, 2018 is off to a ruff start.  Today’s market action seems to confirm what I’ve been thinking for a few days now– we are in a bear market.  Maybe, maybe not– but it sure FEELS that way.

Why is Crypto– both Bitcoin & Altcoins– falling?  Here are a few suggestions:

  • People waited for the new year to sell for tax reasons.
  • Continuously negative Crypto news from Asia.
  • Increased awareness of Crypto taxation.  Governments may not be able to stop Bitcoin– but they sure can tax it!
  • Unclear rules regarding taxation– How to calculate? How to report?
  • Realization that 2017’s massive gains are simply not sustainable.
  • Realization that many most Alt-coins have no, or very little, real value.
  • Realization that it may be a long time before any Cryptocurrency is adopted by the masses for regular day-to-day use.
  • Scaling and other technical issues.

Personally I’m convinced we have entered a bear market.  The real question is how long will the bear market last and how far will prices plummet?

Author: Crypto Clogger

Cryptoasset enthusiast, investor, and trader.

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