“We are entering in the phase when there’s a flushing out of the market. There will be relatively few operations that come out the other side.”
As cryptocurrencies trend downward across the board this week, analysts and speculators weigh in with their opinions on what might happen with the cryptocurrency market. Despite the downturn, many remain optimistic about the industry. Canaan Creative announced deep discounts on their AvalonMiner 921 in a celebratory move to “reschedule ‘Black Friday.’”
Having weathered other market crashes, Salcido projects: “I expect where we are at to possibly get a little worse before it gets better … Like all market bottoms, smart money is watching for the turn, that doesn’t happen usually quickly. It wouldn’t surprise me if the bottom is finally in February.”
