Guys, your reasons for the continuing downtrend are all wrong.
It's pretty simple.
1. Whale(s) spend a full year pumping Bitcoin and altcoins to the moon, using massive leverage.
2. Whale(s) gain control of the float and thin it out, pushing prices to the moon.
3. Whale(s) massively short sell/dump in one go. Ending bull run. Whale mega money then sits on sidelines.
4. Whale(s) use lotza coins to squeeze remaining float up and down to make money trading. Mostly down.
5. Average Joes finally lose interest. Sell at bottom.
... and then... eventually... (*we are not there yet*)...
6. Whale(s) use sidelined mega money to scoop up cheap coins at the bottom. Downtrend over. Next bull run starts.
There are no "reasons". There are no plausible "FUD". Its just the way it goes.
Truth!
The elites share/ part of the crypto market will be more concentrated than the current flawed fiat system.
+5 WOsMerits
Love that Medusa artwork as well...thanks.
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Bitcoin
That was pleasant to watch. Bitcoin has surged over $1000 to breakout over $8k on a nice hourly candle. Currently testing the support/resistance area between $7.6k and $7.8k.
https://i.imgur.com/qNS8x3I.jpgTwo random lines converge.
https://i.imgur.com/EmQHkEC.jpgThe huge number of shorts proved to be irresistible to some whale(s). Now it's downtrend business as usual.
Good morning $btc
We stood on a hill and looked downwards..
https://i.imgur.com/OlDcpF6.jpg#dyor #btfd #cryptouplift
Bitcoin written to be 11K in 7 days!
Manipulation is accurately planned for 7 days.
bad actors have always attempted to derail this thread, it is the beacon for bitcoin freedom so they scat all over it to scare away the noobs into fakecoin scams or until they can fill their bags ... they have varying levels of success, roach and bitunlocker are doing ok by notlambchop standards (I would have banned both long before now because clearly they are just here to derail ... but hey that's just me)
You would think sometimes, that Theymos and Co, encourage them to be here to spout all that vitriol & FUD.
...
I have a sneaking suspicion most of Q2 is going to be boring AF, with mostly sideways action.
...
I expect the same, because there are too many parties that are incentivized to keep
Bitcoin above the average cost of mining a single Bitcoin. Therefore the downside risk from
the current price level is minimal. Of course it is possible that some miners try to bankrupt their
competitors by driving the price lower and mining at a loss for a while, but if a situation
like that would occur it would only be temporary anyway. The upside potential is probably limited too for now
after the parabolic rise at the end of 2017.
Other developments like the decay of the major altcoins and the upcoming block reward halving
in 2020 will drive the BTC price to new highs again.
I personally intend to withdraw all my personal investments that are not in Bitcoin right now during
2018 and commit 100 % of my investment portfolio to Bitcoin going forward.
Therefore I would actually be pretty content if the price would remain below 10k $ for a few more months
until I get that sorted out.
Why would I want to keep savings in fiat when any potential gains are inflated away anyway...
https://pbs.twimg.com/media/DbAVPWWUwAAuJnV.jpg price suppression will limit the excitement for much longer, slow gains
