Only few seasoned Crypto traders were able to forsee and forecasted this sudden massive price drop in BTC and Alts, the dip came shockingly after $Bakkt was launched, maybe its one of the catalyst to the market crash or not, its not certain.
From above $10k BTC now hovers above $8k which is the worst drop in months after staying strong in the $10k Region. But Expert Technical Analyst haven't been able to critically explain such a drop in price just in the space of 36hours, most Crypto traders had predicted a pump pre-Bakkt launch but things went south in their forecasting.
Steem took huge blows alongside all Alts, BTC pump or dump always have a monumental effect on the market as it controls about 50-60% of total Market Cap. As at the time of compiling this short Market report, Steem is trading at 13cent a drop from $0.16 indicated how severe the market crash went over a little while. For some, its a good omen, a good time to acquire more Steem, but I doubt if this drop is a good for long term Steem investors.
Apparently, every form of investment comes with a risk, Crypto has a spice of high octane volatility added to its investment risks which is why many Government are still considering it a scam like President Trump called BTC few weeks ago.
Is Crypto really a mansion built on thin air? What could possibly cause this recent sudden dip? Is it some form of market manipulation? Or just an economic mishap that the world is experiencing at the moment? The next few week before the decide, this is the last Quarter of 2019, maybe there is an imminent Bullrun or maybe we all have to with till 2020 the year of BTC halving or beyond, all fingers crossed till then!