In the former update on BTC by haejin I made the following statement:
"@haejin, you just saw this thing totaly wrong. It now is in a 5 wave triangle going between $ 9.000,-- and $ 8.000,--. Wave three (down) is about to complete untill it touches around $ 8.300,--. Once it hits that it's gonna go up to form wave 4. Wave 4 will bounce of to create a wave five at the end of the triangle. After that we can all make ourselves up to go to a new lower low. Mark this one: $ 2.500,--!

If you don't believe me, dive into U.Cash and try to find a good explenation why this became a 1.7 biljon dollar company overnight. In reality this coin is worth nothing!

Over 70% of cryptocurrency is worth totaly nothing. People are gonna notice that more and more. Guys again, look at the market value of these coins, it's insane. And most of them are still extremely highly overvalued.

...........and if you don't believe me, roughly said U.Cash only has 1/3 of their coins in circulation!"

But, I have to correct that: Wave 2 has just been finished and when it goes down (and in my opinion it does) it is gonna form wave 3 and complete that one around $ 8.500,--

Take notice of the fact that V-turns like the last one on $ 6.000,-- hardly ever happen.
The $ 6.000,-- area hasn't been tested. It bounced off at once. That hardly ever happens.
Althoug we went from $ 6.000,-- to around $ 9.000,-- we're still in a downtrend.
Finished triangles aren't a guarantee a coin moves up. In a bearish market they go down after finishing their triangle.
Don't compare this so called correction with corrections that happend last year in januari. Back then we were in the $ 1.200,-- to $ 800,-- area. The "ball-game" was totaly different back then.

Overall BTC is still moving sidewaves. This also happened in the bearish market area between $ 19.000,-- and $ 17.000,--
Then we had the sideways in the $ 17.000,-- to $ 12.000,-- area.
Then we had the sideways movement in the $ 12.000,-- to $ 9.000 area.
And now we have the sideways movement in the $ 9.000,-- to $ 5.000,-- area.

And since there is NO GUARENTEE BTC will ever gonna go as high as $ 20.000,-- this year there even might come a $ 5.000,-- to $ 2.000,-- area.

Again, all coins are way overvalued. And if you are in the opinion to downflag me, take notice that I already yelled around the $ 16.000,-- area that this was a BEARISH MARKET. I also made the statement about 6 days ago that BTC is probably going into a sideways movement as it now still is.

Still want to downflag me. Oké, but make sure you did your research first into this 1.7 biljon dollar company. After that, you'll be the judge.

Cryptocurrency's are way overvalued!