CAN BITCOIN SURVIVE THROUGH JUNE? We need to monitor this ONE keyword.

in #bitcoin6 years ago

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The biggest thing I'm looking at with Bitcoin right now is volume. Volume, volume, volume.

It's a very tight situation right now and we could call this drop a consolidation before a MASSIVE move up, or the more likely scenario that the biggest players are out and the drop we see as we enter June will be the nail for Bitcoin and a large part of the crypto space.

Remember, we're (the majority of traders in the space) are not here focusing on the fundamentals, only the price and how it compares to Bitcoin. If it were to indeed spike up soon like it did before mid April, maybe we can see life come back in, but we have such poor volume to pick back up the price that I doubt we will be able to maintain the support we need to keep calling this a consolidation.

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This June will be important. If the community shaves off worries about people making billions of dollars from a clean site and a whitepaper, and scandals of Tether creating more USD-T tokens than they hold dollars, then cryptos as we know it will be saved.



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I really thought it was poised for big movement in early May when it was hovering around $9,300. I was thinking that $10,000 was a psychological number that would get people excited and drive up volume.

10k was a VERY powerful psychological layer indeed, however we didn't touch it let alone pass. Communicated a lot to me as many of us were expecting the next bull wave but the markets were too fearful.

It shows the difference between crypto investors and traditional investors. There is a of of value in crypto right now, but people are staying away until the first wave hits. People should be salivating at the BTC price of $7450-ish.

After the bitconnect crap bitcoin dropped and people sold instead of holding bitcoin. If the big player buy in again it will springboard up but not looking for that to happen.

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