VB1001
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April 07, 2019, 08:39:27 PM


Bitcoin (BTC) Likely To Experience Maximum Pain Before QE4

Quote
Bitcoin (BTC) and other cryptocurrencies are still highly speculative assets. It would be unreasonable to compare Bitcoin (BTC) to digital gold at this point when it has a market cap of less than $100 billion and has been seen massive pumps and dumps. The weekly chart for BTC/USD shows that Bitcoin (BTC) is heavily overbought and is due for a sharp decline if it closes the week below the 50 week exponential moving average. Bitcoin (BTC) also has a strong correlation with the S&P (500) as we have noted many a time in some of our analyses. The last time the S&P 500 (SPX) started to decline was in September, 2018. If we look at the BTC/USD chart around that time, it was also preparing for a decline. When the S&P 500 (SPX) crashed after that, so did BTC/USD until the price declined to its 200 Week EMA and closed above it.

https://cryptodaily.co.uk/2019/04/bitcoin-likely-to-experience-maximum-pain-before-qe4

Until the end of the year, up and down.
Some see it this way.

I understand that we should account for market sentiment but that article should be pointed out for what it is.. either highly uninformed or more likely attempting to  cause a market sentiment of hesitation to buy bitcoin or to get HODLers to sell or all of their stash... seeming less and less likely without some real major negative thing happening... and I am nearly to convert from bear to bull.. except I just am waiting to see how hard our next correction comes which might really determine if the $3,122 bottom is unequivocally in.



I would like to answer yes or no, but until we reach +/-6000 and keep it, we will not be out of danger.

I like to publish the contrary opinions (FUD) you have to know what they think. Wink