Bitcoin is fucked until HUGE money comes in, from somewhere. Until then, all we can hope for is that weak hands continued to get shaken out without too much damage. I do think we could be sat twiddling our thumbs well in to next year though :/
We are Bulllish --> Says the Bear Club
Exactly. Permabears are bullish since yesterday while permabulls are bearish. So the turn (short-term) was obvious.
I can't believe any genuine "permabears" would turn bullish after yesterday... they will need to see it drop to somewhere between $340 to $420, then rally on high volume with indicators turning bullish. Really, that's what anyone with some common sense should be looking for, it would be extremely healthy.
People seem to become nervous in here. "Common sense; euphorias last gasp; MUST MAKE NEW LOW; WOULD BE HEALTHY..."
Eh? Not nervous at all, Bitcoin isn't in some kind of crisis, neither is it about to go stratospheric. It's all good.
This market is completely fucked. Right now we are simply watching it getting it destroyed. Bitcoin is becoming worthless.
Nobody around me talks about it anymore let alone considers investing in it.
What sane person would put money in a market where he is guaranteed to get dumped on the next day?
The dumpers are destroying the market. It's that simple.
They will keep doing it till we can't go lower anymore. Only then are they happy and will move on.
Funny you say that actually, I was sat here yesterday thinking "strange how no one has asked me about bitcoin for a while...". Early this year, friends and family were constantly talking about it, asking me how it's going, asking when they should buy some and how (none of them actually did in the end). Now it seems like it was a passing fad for everyone, something to chat about when it was in the news, now it's been months since anyone has asked me about bitcoin. I'm still very bullish long-term, but short to mid-term... ! I 100% agree with you, this market is at the mercy of mega dumpers, and could be for a long time.