We are now monitoring the price and volumes of XRP for a possible shorting opportunity, we have now seen the total market cap breach the support level of $200BN on Coinmarketcap, this is a very big alarm for any investors holding the crypto coins directly.
News of institutional backing and the ripplenet network growing with banks such as santander has failed to drive volumes within the crypto market, bear in mind that this is a sentiment driven market and if news like this cannot push pricing the underlying problems the market faces have been underestimated by the die hard crypto holders, the fact that there are a large percentage of useless coins and tokens that will at some stage be worth absolutely zero causing further market decline does not give me a whole load of confidence..
With that being said the institutional backing the market is seeing has been building a more regulated space which will become a more cleaned up market in the future.
The wise play would be to open an account that allows you to short the market, at this stage if you are only holding naked coin positions then you are not even partly profitable.
Every good trader needs to have the correct tools under their belt to be hedged in any market situation.
My telegram channel is @Cryptocopyfunds
News of institutional backing and the ripplenet network growing with banks such as santander has failed to drive volumes within the crypto market, bear in mind that this is a sentiment driven market and if news like this cannot push pricing the underlying problems the market faces have been underestimated by the die hard crypto holders, the fact that there are a large percentage of useless coins and tokens that will at some stage be worth absolutely zero causing further market decline does not give me a whole load of confidence..
With that being said the institutional backing the market is seeing has been building a more regulated space which will become a more cleaned up market in the future.
The wise play would be to open an account that allows you to short the market, at this stage if you are only holding naked coin positions then you are not even partly profitable.
Every good trader needs to have the correct tools under their belt to be hedged in any market situation.
My telegram channel is @Cryptocopyfunds