Major Correction Inbound
Ever since bitcoin shot up to $7,000 it pretty much tapered out at that point. It was not till a recent pump to $8,000 on rather lackluster news that kept us at that mark.
However there has been nothing but bad news for bitcoin lately and thus a correction and an over bought market is now taking place.
I see Bitcoin going in the short term back down to $6,800 - $7,300 levels simply because the pump to 8k really had nothing behind it.
- Always remember this is for entertainment purposes only and not financial advice.
Bitcoin does have upcoming positive news but at the moment for the next month about there really is nothing happening with it in terms of good news. Everything has pointed to bad and yet more confusion from Bitcoin cash and Bitcoin SV. As if one wild card was not enough we now have two which are doing nothing positive for the markets at all.
What is your thoughts on the near term bitcoin price ?
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A healthy correction that should find some good support levels and great some consolidation for well needed lrice discovery!
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Yup it was way overbought on news of stuff that is not out yet. It always comes back to news and then shortly after if its really happened or not lol
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