Bitcoin (BTC) Morning Update. The BULLS are out of juice.
Last night it looked like the BULLS had it, people rushing to Buy before it started on the bull run then the BEARS took control. With futures ending tomorrow with the turn, this is not good.
Mike Novogratz, the man that invented the Hedge fund, has said on many occasion that it would fall to $8000. Mike Novogratz is a whale and its very possible that he has a futures contract with $8000 on it. Maybe not. Anyway, there are plenty of other whales that only have to tweet something and it would cause a minor panic in the markets.
Over 70% of people in the crypto space are amatuers, and i do put myself in that bracket. One piece of news can set of a chain reaction.
What will happen i do not know, crypto is a strange and magical place.
Currently it is looking like the BEARS are going to push back down to the support, i can not see another charge today from the BULLS.
When i look at the forest it calms me, it makes me realise that this is only a minor correction and a drop to $8000 would be the best thing for everyone. It will remove all the weak hands.
PLUS it will allow people to BUY some cheap Bitcoin. Imagine calling $8000 a BITCOIN cheap. Madness.
In summary i still go for my primary prediction for a drop to $8000 then a BULL RUN
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Wishing you massive profits in 2018.