All major cryptocurrencies are crashing again and bitcoin dipped below $6000

cryptonized (73) in crypto • 7 years ago

All major cryptocurrencies are crashing again and bitcoin dipped below $6000

The market rout is continuing for yet another day.

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7 years ago by cryptonized (73)

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jkenny (63) · 7 years ago

I’m hoping the sellers all shake out today do this market can find a floor.

$2.38

1 vote

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discernente (76) · 7 years ago

The best moment to invest is after big corrections. But the prices will not go up instantly. It will go sideways perhaps during this whole year.

$2.21

2 votes

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adriatik (51) · 7 years ago

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moon2011 (33) · 7 years ago (edited)

Approximately all Analysts said that the market needs this correction . So we are waiting for the good news

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1 vote

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cryptoewp (69) · 7 years ago

thanks for news

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1 vote

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yourboynextdoor (40) · 7 years ago

I have been asking this one question for a while now. I got a reply that i am not yet satisfied with. And yet am going to ask again, what is responsible for the sharp drop in the price of bitcoin??

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petronius (27) · 7 years ago

quick answer : market manipulation.
-> https://ambcrypto.com/deeper-investigation-bitcoin-ethereum-markets-falling/

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usmangabol (39) · 7 years ago

When life gives you lemons, make lemonade! Use this opportunity to buy cryptos cheap. We never see many cryptos back at these prices again.

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themigeo (25) · 7 years ago

Italian Crypto Businesses to Register Under Proposed New Rules!

https://www.tokens24.com/news/bitcoins-news-italian-crypto-businesses-register-proposed-new-rules/

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rollandthomas (74) · 7 years ago

According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.

bitcoin.PNG

Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.

At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.

The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.

The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?

This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.

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