Will Bitcoin Crash During the Holidays?
Will Bitcoin Crash During the Holidays?
Helloo Guys
It has been long we interacted. I want to write to you all today concerning my fears with bitcoin.
Bitcoin has been flying for nearly a month now hitting new all time highs just each time after we all thought it was going to crash.
I am worried about how fast bitcoin is climbing. There is "fear of missing out" going on there daily in the market. New people are coming into the market and old holders hardly want to part with their bitcoin. All these culminate into persistent rising bitcoin with virtually no corrections.
Now it is clear wall street guys are also entering bitcoin market. These are experienced traders with huge sum of money to play around. They are helping to push the price up at the moment but I am also seeing another side of the coin.
What happens when the wall street guys close and go on Xmass holidays? Will bitcoin price crash at that time? Will it lead to the anticipated correction of this month long rally?
Drop your comment guys. Follow @richguy always
what goes up must go down
Bitcoin? ummmm, catch up. The curve is already in full fruition. Step forward 5 years.
Bitcoin, is pose to go lower, has not flip yet going back and resuming the uptrend, now is consolidating, to resume, needs to break the recent lows that she did, you can see easily on weekly chart and daily.
You ask why taking the lows, Bitcoin like the other majors Crypto, is manipulated by the banks, and they use the same model, before resuming, they have to take out the the other participants, that follow classic TA.
So who is trying to buy now, put stop loss below previous low, and in most charts there is also a double bottom, two same price lows, another as for TA, where stop loss is a secure place to be.
Now a part this, I think really that 8k is a price where will be lots of interest from the banks, and they will buy, all the people that will pull the plug, from about 12k until 8k, they will buy all from the sellers.
Slaughtering, them, then the price can resume, too many normal people making money is not the Bank model, they will not allow it.
Now Bitcoin seems to dictate the trend also of many other coins....so the market as paused in most coins, or retracing too.....together with Bitcoin.
Notice how ETH instead has a good tone...or BNB for Binance, example, people tend to move to crypto, that are felt more secure....