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Hype has well and truly settled. We are at October 2017 levels.
Trading volume is low and stable. So low that /u/arsonbunny has speculated exchanges are manipulating BTC to liquidate margin traders en-masse to make profits.
International sentiment towards blockchain and technology development is positive. Sentiment towards true cryptocurrencies is still negative however. No government will support a currency that they are unable to control.
Global market cap has returned to mid-November 2017 levels, which was the period before the media frenzy started.
BTC dominance is flattening out, with small-cap Alts increasing their percentage share in last 2 weeks and mid-cap Alts starting in last few days.
Filing deadline for U.S. federal income tax returns coming up: Tuesday, 17 April in USA. Most large investors have taken out the relevant amount they need to put aside for their taxes.
BTCUSDSHORTS at a sharp ATH, looking overdue for a correction. It's almost parabolic.
Cryptobusinesses are relentlessly expanding. Coinbase, Binance, Bitmain, Circle+Poloniex are all developing rapidly.
Regulatory framework is in development.1
China is it's own beast, once the regulatory framework is in place the country will open up as a blockchain technology hub. Think for blockchain
Exchanges are moving closer towards fiat trading pairs and regulatory compliance
Institutional finance is entering the markets.1
1 Will not increase the price of coins. This will promote price discovery and decrease overall volatility.
I reckon the market will bottom out sometime between now and end of April. I'm keeping fiat ready to invest heavily when the reversal begins.
What do you think? Signs pointing towards a prolonged and continuing bear market? Signs pointing towards a reversal and start of a bull market?
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