Bitcoin (Dash, Litecoin etc) is and should be in a bear market

in #bitcoin3 years ago (edited)

Often when you study how the markets are behaving, there is no clear signal, and anything can happen. This is not one of those times:

Buy the stock market dip, don't buy the Bitcoin bear market! 

(3-5 minutes of interest)

6:35 "Nothing bullish in this chart" 

There is a reason behind the Bitcoin bullmarket: Miners are selling BTC for about $14-16 per day, while there are no new buyers (Look at Korea - They are buying other cryptos!). Miners are probably selling their future BTCs on the futures markets more and more too, and they are panicking now as the hash-power (competition from other miners) keeps going up despite the lower BTC-price.

The only ones buying Bitcoin are people who sell other cryptos and already own some Bitcoin, and all their friends that they can fool! 

The bullmarket will return to cryptoland when the capital goes into coins without inflation, for example IOTA, and inflation coins like BTC and Ripple crash badly. If that doesn't happen, the bear-miners and bear-Ripple company will continue to suck out the wealth of the crypto market. Also: when money flows into Tether, that doesn't move the market at all (and make the market they are selling go down heavily), and Tether seems to gain market share.

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