RE: Bitcoin crash: Is it bears already?
Hi @joelagbo
Finally I've found some time to catch up with previously bookmarked posts. This topic is quite right on time. Many people seem to be concerned about recent BTC price action.
You've made a good point about Kazakhstan’s internet issue. It surely had a great impact on recent sell-off.
Things are certainly not looking healthy, outwardly.
I kind of disagree. Things didn't look healthy when Bitcoin reached $67k without having any resistance just few months ago. Hype we have witnessed around that time ... that was unhealthy.
Right now crypto market had a chance to shake out large part of so called "weak hands". Which I consider to be healthy BIG TIME! :)
ps. I like how you compared bitcoin to "a car on breaks". Right on spot! :D
ps.2. maybe you will find my post worth your time and attention. It's related to recent bitcoin price movement and my view on it: https://steemit.com/hive-175254/@crypto.piotr/reason-for-bitcoin-massive-sell-off-learn-my-personal-opinion-and-share-your-view-and-earn-10k-sp-upvote-on-your-comment\
Cheers, Piotr
I think we are actually on the same page. That's actually the central message of the whole article. Things are not looking good outwardly; which is a clear fact. However, if you take a look at the bigger picture, we are consolidating at a very good price and if we ever make a recovery, we will be going straight into another cycle of the bull run.
thanks for taking time to read!