Watch For A (Short Lived) Bitcoin Smack-Down, Here's Why. By Gregory Mannarino
As you all may know, I have been in and out of Bitcoin and other Cryptos over the years, but something is going on and we need to be aware.
Bitcoin and other Cryptocurrencies have been trading in a tight range for a while now, and as of late we are witnessing a developing/worsening currency crisis in emerging markets. With that, we are seeing the typical "knee jerk reaction" into the perceived safety of the US dollar (something I have been covering at length in my business day MarketReport videos).
I believe there is a strong possibility that as this emerging market currency crisis gets worse, and it will IMO, there could be a deliberate, but short lived, smack-down in the price of Bitcoin.
As a person who believes in the concept of Cryptos, although I have admitted that I am having a hard time putting a real value on it in this environment, IF there is a smack-down with regard to Bitcoin, it would be a buying opportunity.
Gregory Mannarino
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All liquid assets could be in for a fall if the stawk markets and emerging markets go the way of fiat, zero is the goal.
They will definitely have the crypto plunge instigation team monitoring the situation. Can’t have those EM citizens believing crypto is a safe haven... yet
I think the same way too but I don'y know what a smack down would look like
I mean will it be a 3K BTC or less?
At the same time there aren't any sell orders that low or is it that an approved etf would spike the price up and then an internal trade could kick off that could potentially bring the price to pennies...
I'm not smart enough to figure this all out, but it makes sense to me if the metals go up, and either coins aren't available or they are too high, then cryptos may be seen as another haven "safer" than the dollar or other currencies. At some point the global elites may start a war in a cya effort as their countries collapse. While I agree P Trump has not acted as I wish he would on all fronts, he has certainly upset the global elites applecart and made everyone more aware of the Fake News media. We are indeed in very challenging times which calls for cool heads in the midst of chaos.
upvoted and resteemed.