Ripple has gone up from $0.006684 in the beginning of 2017 to $0.258368, an increase of 38554%.
Should You Be Buying?
And what about bitcoin ? Nobody is buying it ?
I think it's quite common to see this type of cycle. When an asset has a large, sudden increase, lots of people will buy the asset just to ride the surge. That pushes the price up and you can have a large rally. As soon as there's a hint that the rally is over, all the people who bought in just for the rally will try to cash out before the price crashes. This causes a huge correction in the price.
Bitcoin just surged to $3k. That nice, round number probably provoked enough selling to cause the price to drop. That drop triggered all of the people who aren't a long-term believer in bitcoin to try to get out so they miss the drop and maybe get back in when it's over.
XRP had a similar experience, surging from less than a penny all the way to 42 cents or so with lots of people buying in just to ride the rally. When the rally had a hint of ending, all of those "rally riders" got out as quickly as they could, correcting the price all the way down to 20 cents or so. Now XRP seems to be consolidating back up, just as bitcoin probably will shortly.
What odd about this is that it largely doesn't involve any activity on the part of those who believe in the asset and are holding it for the long term. So the behavior is largely independent of how rationally good or bad the asset is.
Small bears are very happy 