Many cryptocurrencies have lost more than half of their value from all time highs this year. From Polkadot to Uniswap to Dogecoin. Carano is not special.
I've been studying historical crypto patterns and they all have one thing in common, once the bubble pops, most of them tend to lose more than 90% of their price.
Carano is a fairly new project compared to Bitcoin & Ethereum. Therefore, should the same historical patterns play out, there are few support levels on the way down.......
This is a risky play equivalent to catching a knife mid-air. Play safe, this is not financial advice.
You need a bubble in order for a "pop". No real mania phase, no blow-off top. However this year we have seen global adoption of cryptocurrencies like we've never seen before. All signs pointing to a bubble about to form, not one about to pop.
GrizzlyBearBee
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@crashpartington With the currency having lost 61.8% from its ATH, upside for the rest of the year and probably first quarter of next year is limited. And accounting for seasonality, isn't this a historical good time for BTC & ETH to rise, which is then followed by Alts higher into the first half of a new year?