I started my journey navigating the crypto markets in 2017. Many painful but beautiful lessons.
I have just purchased my first MAYC #1280
Glad to be a part of the community @WelcomeApes@BoredApeYC@yugalabs
Special thanks to the brothers @CryptoDefiNFT1 @Gr1ndnShine
At the moment, the market is completely dormant. I personally haven’t seen price action with such low participation and volume since 2016. Every attempt at a rally is immediately absorbed and, above all, there is a lack of the buying pressure needed to sustain the movements.
But beware: a market with low volume does not necessarily mean a dead market. It simply means that most of the capital is on the sidelines. Historically, periods of apathy are often those that precede the most violent price movements.
The major players who manipulate prices and market movements are still present. Funds, market makers and exchanges (particularly Binance) continue to account for a significant portion of the market’s liquidity, and when capital starts flowing again, it will be precisely these players who drive the most significant price movements. Furthermore, during periods of low liquidity, even relatively small orders can have a greater impact on price, increasing volatility.
For this reason, I do not believe it is time to declare the end of cryptocurrencies. We are simply in one of the most tedious and frustrating phases of the cycle: low volumes, little directionality and a great deal of patience required.
Remember one thing: the longer the market downturn lasts, the greater the subsequent rally could be when liquidity and interest return. Those who manage to maintain discipline at times like these are often the ones best placed when the market reawakens.