Crypto Reflects The Weather In The Netherlands

I could best compare the crypto market this week with the weather in the Netherlands. From the rain in the drip, depression after depression, and a downward trend in general. In short, the sun has not shined in the Netherlands and there is also a depressed mood in the crypto markets. Is it all negative then?

It's Not All Bad Apparently

Some argue that this decline in Bitcoin is healthy for the market. Because in this way derivatives traders would be slowly removed from the market. In any case, the many liquidations show that many people speculated on price increases. It's a shame that these liquidations put even further pressure on the price. But don't worry, there will come a time when Bitcoin will rise again. We'll have to wait and see when that happens, but it will all work out again one day.

Germany Selling Bitcoin

Perhaps at the moment, Germany will listen to their parliamentarian who insists that Germany stop selling the Bitcoins they possess. And there could be something in that, in recent months Germany has already sold around 435 million euros worth of Bitcoins. We will never be able to say with 100% certainty, but it might have been wiser if they had not sold them now. But hey, I'm not an economist, so I can only guess and wait until the bleeding of the crypto market stops so that the little bit of assets I personally have can become more valuable again. In any case, it would make me happier if I could expect some green days again... "Buy the dip" no longer applies to me, so I am done with the predominant red days and would like to see that switch to predominant green days.

Mt. Gox Soon

Nevertheless, that is not what I expect in the very short term. Now Mt. Gox seems to be on the verge of cashing out all Bitcoins, there is a good chance that a large number of people will dump even more Bitcoins on the market. So in my mind, I am already preparing for much more volatility shortly and that means that I look very little online. There are a few small things that I have to keep track of every day, and that pretty much says it all. Other things require my attention that I should be more concerned with. There is currently little income for me from crypto, and the daily rising costs of living require income. So I focus a lot more on that.

Whales Exiting Ethereum

Now I have talked about Bitcoin, but of course, it is not just Bitcoin. At Ethereum, they are currently noticing a massive decrease in the number of whales. That has dropped from 150,000 wallets to 130,000 wallets in a short time. So it can be said with certainty that Ethereum is going through a weak period, and whether that can be called good news, I do not yet agree with myself. Although there will be fewer whales, Ethereum's Market Value to Realized Value (MVRV) score looks very hopeful and positive.

Where Will Eth Find The Bottom?

It is now hoped that Ethereum can quickly find its bottom so that an accumulation phase can start again and some green days lie ahead.

In Short, It's Summer Sale!

The summary of crypto this week is that the summer sale continues ... My idea is that there are many Northern Europeans who have put their crypto on sale to get extra holiday money to leave the bad weather behind them and start the summer looking for other places. I think that while the crypto market has dipped into the red and remains in the red, the holiday industry is doing very well and has certainly ended up in the green figures. Anyway, that is also just a twist of my brain and certainly not based on any reality or experience. It's just a twist in my mind and something I could understand very well... I too would like to find the sun, and if I could do that by selling crypto... then I would too! Even now in the big summer sale!