{"id":437378,"date":"2020-09-05T01:00:48","date_gmt":"2020-09-05T01:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=437378"},"modified":"2024-06-11T07:41:36","modified_gmt":"2024-06-11T07:41:36","slug":"crypto-market-profit-taking-rebalancing","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-market-profit-taking-rebalancing\/","title":{"rendered":"Don\u2019t Panic: Crypto Market Collapse Was \u201cProfit-Taking” and “Rebalancing\u201d"},"content":{"rendered":"

After reaching a point of extreme greed<\/a>, the crypto market in a flash turned to fear. But investors shouldn’t panic\u2013\u2013according to stock market analysts, the recent crash was normal profit-taking and portfolio rebalancing.<\/p>\n

Could that also be the case with crypto, and the market will soon recover after what is a normal and healthy correction?<\/p>\n

Is The Current Market Correction Healthy, Or A Sign Of A Deeper Drop Developing?<\/h2>\n

Across all markets this week, there’s been a massive selloff across the board<\/a>. Among the hardest hit, were overvalued tech stocks and cryptocurrencies. The Dow Jones and the S&P 500 also slid, but nowhere near as violently.<\/p>\n

Market sentiment swiftly switched from extreme greed to fear<\/a>, and with Black Thursday still fresh in investors’ minds, they’re wondering how bad things get.<\/p>\n

Related Reading | Be Fearful: Crypto Market Greed Reaches Second Highest Point In History<\/a><\/strong><\/em><\/p>\n

Thoughts were mixed on the subject, but a team of analysts got together on CNBC to share their views<\/a>. Among the analysts, was Jason Snipe of Odyssey Capital Advisors who had a more rational theory.<\/p>\n

\u201cI look at this summer, which is historically great, particularly last month which was the best August in decades. I think it\u2019s a little bit of rebalancing, I think it\u2019s a little bit of profit-taking. I know September is historically a slow month, there won\u2019t be a lot of news coming and also preparing for the election,\u201d Snipe said.<\/p><\/blockquote>\n

\"total<\/p>\n

Total CryptoCap Daily Price Chart | Source: TradingView<\/a><\/pre>\n
Crypto Market Could Recover, But Election Risk Remains: Profit-Taking and Rebalancing Is Expected<\/h2>\n
If the current crash<\/a> is just profit-taking and portfolio rebalancing, as Snipe suggest, then any correction along the way up is normal and healthy.<\/p>\n
Almost all crypto assets are up on the year<\/a> thanks to a rising tide lifting all boats, and the stock market has been soaring to new all-time highs. Investors that bought in at any point during the year prior to this, are in profit and could simply be securing some of that.<\/p>\n
Others could be taking profit from one investment, and putting it another, or even just cashing out and sitting out any coming storm related to the election.<\/p>\n
Related Reading | Barron\u2019s Recommends Hedging A Stock Portfolio, But What About Bitcoin?<\/a><\/strong><\/em><\/p>\n
The election coming this November remains the biggest risk hanging over the market<\/a>, even larger than a global pandemic unlike the modern world has ever seen.<\/p>\n
A Biden win is said to severely hurt markets, while Trump could cause things to, well, pump. But its the potential prolonged drama that could erupt over disagreements over poll counts.<\/p>\n
With the pandemic currently making voting more challenging, the situation could be used to disrupt the election, leaving a cloud of uncertainty, and therefore risk, over the market.<\/p>\n","protected":false},"excerpt":{"rendered":"
After reaching a point of extreme greed, the crypto market in a flash turned to fear. But investors shouldn’t panic\u2013\u2013according to stock market analysts, the recent crash was normal profit-taking and portfolio rebalancing. Could that also be the case with crypto, and the market will soon recover after what is a normal and healthy correction? Is The Current Market Correction Healthy, Or A Sign Of A Deeper Drop Developing? Across all markets this week, there’s been a massive selloff across the board. Among the hardest hit, were overvalued tech stocks and cryptocurrencies. The Dow Jones and the S&P 500 also slid, but nowhere near as violently. Market sentiment swiftly switched from extreme greed to fear, and with Black Thursday still fresh in investors’ minds, they’re wondering how bad things get. Related Reading | Be Fearful: Crypto Market Greed Reaches Second Highest Point In History Thoughts were mixed on the subject, but a team of analysts got together on CNBC to share their views. Among the analysts, was Jason Snipe of Odyssey Capital Advisors who had a more rational theory. \u201cI look at this summer, which is historically great, particularly last month which was the best August in decades. I think it\u2019s a little bit of rebalancing, I think it\u2019s a little bit of profit-taking. I know September is historically a slow month, there won\u2019t be a lot of news coming and also preparing for the election,\u201d Snipe said. Total CryptoCap Daily Price Chart | Source: TradingView Crypto Market Could Recover, But Election Risk Remains: Profit-Taking and Rebalancing Is Expected If the current crash is just profit-taking and portfolio rebalancing, as Snipe suggest, then any correction along the way up is normal and healthy. Almost all crypto assets are up on the year thanks to a rising tide lifting all boats, and the stock market has been soaring to new all-time highs. Investors that bought in at any point during the year prior to this, are in profit and could simply be securing some of that. Others could be taking profit from one investment, and putting it another, or even just cashing out and sitting out any coming storm related to the election. Related Reading | Barron\u2019s Recommends Hedging A Stock Portfolio, But What About Bitcoin? The election coming this November remains the biggest risk hanging over the market, even larger than a global pandemic unlike the modern world has ever seen. A Biden win is said to severely hurt markets, while Trump could cause things to, well, pump. But its the potential prolonged drama that could erupt over disagreements over poll counts. With the pandemic currently making voting more challenging, the situation could be used to disrupt the election, leaving a cloud of uncertainty, and therefore risk, over the market.<\/p>\n","protected":false},"author":517,"featured_media":437384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-437378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nDon\u2019t Panic: Crypto Market Collapse Was \u201cProfit-Taking" and "Rebalancing\u201d<\/title>\n<meta name=\"description\" content=\"After reaching a point of extreme greed, the crypto market in a flash turned to fear. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Don\u2019t Panic: Crypto Market Collapse Was \u201cProfit-Taking” and “Rebalancing\u201d","url":"http:\/\/wncen.com\/news\/crypto-market-profit-taking-rebalancing\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-market-profit-taking-rebalancing\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/09\/bitcoin-crypto-market-panic-Depositphotos_74218813_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/09\/bitcoin-crypto-market-panic-Depositphotos_74218813_xl-2015-scaled.jpg?fit=2560%2C1707"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2020-09-05T01:00:48Z","datePublished":"2020-09-05T01:00:48Z","dateModified":"2024-06-11T07:41:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Don\\u2019t Panic: Crypto Market Collapse Was \\u201cProfit-Taking” and “Rebalancing\\u201d\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-market-profit-taking-rebalancing\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-market-profit-taking-rebalancing\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/bitcoin-crypto-market-panic-Depositphotos_74218813_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/bitcoin-crypto-market-panic-Depositphotos_74218813_xl-2015-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-09-05T01:00:48Z\",\"datePublished\":\"2020-09-05T01:00:48Z\",\"dateModified\":\"2024-06-11T07:41:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/09\/bitcoin-crypto-market-panic-Depositphotos_74218813_xl-2015-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/437378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=437378"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/437378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/437384"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=437378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=437378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=437378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}