What will happen to Bitcoin [BTC], Ethereum [ETH] and other cryptos – An AMBCrypto sentimental data study!

AMBCrypto has been interviewing and collating a data set of various interviews over the past month where our primary focus was to understand sentiments regarding the cryptocurrency market from people who are from various walks of life including investors, miners, journalists, developers and skeptics alike.

Yesterday, 7th March’ 2018, we saw a dramatic drop by $1000, almost 11% under an hour and hit a 9-day low at $9450. The primary reason for this was attributed to the Binance “hack”, which the team eventually resolved. The bigger news that broke out yesterday regarding an Mt. Gox trustee selling half a billion dollars worth Bitcoin and Bitcoin Cash was what some market investors called “hurtful”.

Max Ancieta, a cryptocurrency investor from Orlando says,

“Mt. Gox’s trustee sold his BTC and B.cash and we are still above the $9k mark. Really surprising… Has our market matured or is this a sign that are heading to a more stable crypto market?”

Hin Kim, a Bitcoin miner from Atlanta says,

“Yea, mining is affected :/ .. Solar mining is taking over. No matter how many people sell Bitcoin, if it crashes to $1000, i’ll probably be the one buying all the Bitcoins. Imagine the mad rush. Will never happen though.”

When asked about the recent news about Mt. Gox trustee selling his chunk and the possibility of other whales out there, Luke Young, a cryptocurrency journalist from London says,

“The possibility of it dropping now to a $8000 level or below is high. FUD all around. Too much FUD for even a strong hand to handle. There is NO light at the end of the tunnel for sometime now. Need good positive news bombarded for a period of 2 weeks continously to change things around.”

A blockchain developer from Germany, Patrick Thirtle says,

“We need Bitcoin to be strong. Unfortunately till the time the market matures, everything depends on Bitcoin’s performance. The blockchain space, the technology, the people working in it, governments who want to use it in their systems will realize slowly a ‘good’ crypto market is healthy for them as well and then I guess FUD stops”

Raymond Danner, an investment banker and financial advisor says,

“When you are too close to the market you are blinded. The bigger picture is clear for me, we are hitting 30K for shizz. After a big whale sells his hand, there will definitely be fear. Wait it out, let things clear, invest when it dips. Diversify so that it doesn’t hurt you.”

A “whale” investor, Peter B (pseudo name) with an active cryptocurrency investment of $175 million says,

“Bitcoin like every other asset is emotional and still hasn’t hit puberty. Unlike other markets, cryptocurrency has been fairly anonymous so big hands don’t know each other but a lot of us follow the other “big” hands. The Mt. Gox news have made people nervous. It will be an anxious 72 hours but things will settle, Bitcoin is going nowhere. This year is huge, wait for it!”

We interviewed over 79 people from different walks of life and in conclusion, the sentiment is positive. With big whales who controlled big portions of Bitcoin slowly getting out of the way, the markets can now look for a stable, positive growth which is sustainable, less volatile and constructive.

As the article was being written, Bitcoin crashed from $9800 to $9000 levels in less than an hour. Bitcoin was trading at $9078 at press time but with big buy orders in play.

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