Bitcoin being shorted?
Since it is possible to profit from Bitcoin falling in price as well as rising, it is very possible that many big investors are making big money as the prices crash. For people who are long Bitcoin this may be an opportunity to buy. $5000 in my opinion is a Bitcoin which is over sold and thus under valued.
The good news is this current shakeout will scare away short term speculators who margin trade. On the other hand those short term speculators are probably the same sort of people who pushed the Bitcoin price into a $20,000 bubble. I said it was a bubble when it happened, and I predicted the floor this time to be around $6000.
Of course nothing I say is investment advice. My predictions may be wrong. Do what you think is best with your money. Currently Bitcoin is priced at $6,879. In my opinion we are now at the floor range which I predict based on analysis of long term charts to be no less than $6000. If Bitcoin does go lower, then in my opinion it's probably being shorted and will not be able to stay that low for very long.
I totally agree with this line because the big reason of suddenly spike up and crash in btc prices are these contracts and that makes Bitcoin a gambling cryptocurrency,i really don't like this because the big Whales now controlling Bitcoin prices and making millions of dollars.
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I remember the long ETF for Bitcoin adds a huge premium on its price and I doubt that it was solved since then.
The Wall Street tools for Bitcoin failed from customers' point of view, and while it may go down further, it is no longer a good opportunity to short.
The evil cabal are bound on enhancing inflation, and Bitcoin is a better hedge against it than Wall Street's rigged precious metals paper future contracts.
Now they have a new scheme, supposedly shorting Bitcoin, just when the opportunity is past or near its final stages.
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I agree with your thinking, but I wouldn't be surprised to see BTC touch around $5000 or the low $5000's. If it does go that low, I highly doubt it would stay there very long. That would be a steal in my opinion.
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Very nice post about cryptocurrency
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Good work sir! I hope to see more of you.
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Hi Dana. Thanks for writing this article. I would love it if you could elaborate on the first sentence where you claim that it is possible to profit from BTC's prices going down too. Are you referring to BTC futures? I would appreciate more info about this. Thanks.
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Right here. It almost looks like a classic pump and dump. This is because I don't see any significant news which brought Bitcoin to $20,000 nor did I see any significant news to bring it back down to where it was before the pump.
What is keeping western money out of crypto? I'm sure people here on Steemit can speculate.
Reference
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I found this very interesting read on medium
Which discusses about how Cartels could be involved in the price suppression of bitcoin.
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I'm not an expert, so I'd like to listen to some clever people, like you-)
I'm waiting for Bitcoin's rise very much because I've some financial problems and they can be solved if it rises.
So what do you think how long will be my torturing with this floor price?)
Many experts say the rise will happen close to the summer. But how much it will be...
I'm eager to know-)
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Trace Mayer (@tracemayer) says he would like crypto winter to last for 18 months. I disagree with him vigorously on that. I don't think it can realistically last that long unless there really is coordinated price suppression activities. I do think we could see 3 months maybe 4. I think Steem could go down to under $1 or even under 50 cents. Prepare for the worst.
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Thank you for this answer, I was waiting for it too, it is really bad news, I check up the price of Steem every day but it is getting lower and lower.
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Before Steem had it's run up it was cheap, under 25 cents. I would say the floor will be back down where it was before plus perhaps 10-25 cents. So 50 cents I think is the price we will see for Steem next month. It sucks, it's brutal, but when you live off crypto and are all in, you have to take the good with the bad.
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Unfortunately, I am very bad at cryptocurrency. When SBD was at a price of 5 dollars, I just held them, thought its price would rise soon. It was very silly from my side. Now I converted my SBDs to Steems as I have heard that SBD will be pegged to $1 and just waiting for Steem rise. I hope it will happen one day) Thank you for such a detailed answer @dana-edwards.
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thank you very much for this info! I hoped this crypto "winter" would end in the spring, but no..-(
BTC and Steem are directly conntected, right? Now we've Bitcoin floor price, and Steem has lost its positions, so thr things will change, and steem will rise when Btc will be more expensive, is it so?
Nobody can be sure when and what will be in the cryptoworld, but still there're people who know the main tendencies, and can feel their direction, so thank you for advice!
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Steem floor is 25-50 cents unfortunately. This is going to get worse and worse for Steem until we have both SMTs and crypto is out of it's bearish trend. Honestly I'm beginning to suspect the price is being suppressed.
If you check my blog you will see that banks have been blocking people from buying cryptocurrency using debit and credit cards. Now is the time to earn as much as you can, cut back on spending. You can afford food? Shelter? Just pay for that and put the bills on hold if you must until this situation improves.
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