Bitcoin - the upside

in bitcoin •  20 days ago

As much as I wish for bitcoin to dip a little more I am afraid it won't happen

This is the difference between 2014 and now

Here i underlined the stubbornness of the miners keeping the price above the 6K for the longest till eventually they couldn't and the brutal break happened

image.png

Now back in 2014 it was more of an organic flow that eventually capitulated overtime at around mid January only to bounce back strongly something that we didn't see happen after the 6K break down...

image.png

I mean we saw a bounce up but it was weak

This may be because bitcoin was kept for the longest above 6K and now all that market "energy" blow up in one single month leading potentially to the capitulation of bitcoin around the 3K
Because of that we may never see a break below 3K again or if we do then it is going to be short lived

The upside is a bounce back to the 6K just to fall down to the 4k again in a game that could last for the entire year

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

thank for you information

Posted using Partiko Android