Why crypto is down today
This is merely a correction.
After every small or sizable bull run there is a correction.
Lots of sell orders executing and many transactions which were double spent correcting themselves.
,Although I will say this, we are still not out of the bear market.
Weu2019ve seen some crazy prices downfall over the past 40 days and I feel there is still time before we enter a bull run similar to the one in December 2017.
Bitcoin is still teasing the support levels on the charts.
But after all that the market seems in good shape and is reaching for some stability which is a good sign .
Crypto crash today
Well, the thing is, crypto isnu2019t the only one crashing u2014 in fact, those analysts keen to point out cryptou2019s correlation with stock markets stood up and said stock indices all over the world were in shock, and crypto simply followed suit.
,It was a bit more difficult for Bitcoin as most people thought 50k was the floor, and set up buys around there, with tight stop losses that probably all triggered around 48k, helping the sell off further.
,Remember Black Monday last year when Bitcoin lost so much in a day it fell well below $4000? That was a stock market crash as well.
What happened to Bitcoin today
the price just went up and bitcoin is beginning to worth more than usual why don you consult Donald Stinson on if he has any knowledge about this
Will crypto recover
I think that not only will it recover, but there has never been a crash (which happens every 15 years, last one was 2008) where people can pay for something without fiat currency.
Gold decreases as itu2019s tied to fiat inflation, so say inflation is 3% a year (it was before I quit working for a company anyway).
,That means that when you buy $100 of gold, you can only buy $97 worth of gold the year after (the actual gold also decreases year by year, then add in the fees from the gold company monoply), then $94 worth the year after that etc.
Same with diamonds, rubys etc.
,Same with houses, oil is a terrible investment considering Tesla and renewable energy.
Stocks in 2008 will look like a walk in the park compared to this one.
So people will sell, goods will increase in price and fiat will continuously be printed which causes the whole thing in the first place.
,You canu2019t print crypto.
Fiat was used for gold (also canu2019t print), but what about crypto for gold? What about crypto foru2026.
well anything?,People are panic selling (well, the millionaires are because they know every 15 years everyone just dumps on the poor), in my opinion this is the best chance to buy crypto since 2011.
Also no-one accepts gold because the monopoly involved is too expensive to cash out.
More companies accept crypto than gold.
,There is no monopoly on cryptoAnyone selling it below mining price isu2026not smart.
No miner will do that and will instead sell the mining rigs themselves, comparable to the most sold thing during the gold rush was shovels and sieves.
,Maybe invest in mining rigs lol
Why Bitcoin is falling down today
First of all I should point out that it wasnu2019t some random thing happening out of the sky.
People that knew what they were doing, expected this dip since 2 to 4 weeks ago.
Now Iu2019m gonna tell you how I knew what will happen and didnu2019t lose a penny in this deep dip.
,Take a look at this picture.
This is the weekly chart of Bitcoin (BTCUSDT),What you see below the screen is the RSI indicator.
It shows the power of a movement (either up or down) and the strength supporting the movement of the price.
,Now as you see on the chart from point 1 to point 2 the price was rising but take a look at the RSI as itu2019s falling from point 1 to point 2.
Now the question is u201cWhy the heck it the price going up but the RSI falling down?u201d.
,Well this is called Divergence.
The real reason that this divergence showed up here is that the big (smart) money pulled out of the market at point 1 (Either all of the big smart money or a big chunk of it).
Then after point 1 the price decreased for two weeks as you can see on the chart.
Now that the big whales are out, the small fish came swimming and put their money in so the price goes up to point 2 but thereu2019s a difference between price reaching point 1 and price reaching point 2.
The difference is that for example 10 rich whales invested 10 billion dollars in bitcoin so it reached point 1, then they pulled out their money and the small fish came to play so 100,000 normal people invested 10 billion in bitcoin and it rose again to point 2.
Do you see the difference? 10 rich smart whales donu2019t panic, they know what theyu2019re doing, but 100,000 average traders who are looking to make a quick buck will panic with the first sign of danger.
so from point 1 to point 2 those big whales pulled out of the market so slow and subtle that those fish didnu2019t suspect a thing.
They kept buying the overpriced bitcoin and the whales were happy to sell at the top.
One red candle shows up, the fish panic and sell like crazy and the rest is history.
,That divergence is the real reason why the prices dropped but thereu2019s no reason to panic.
Heavy drops are good for the market.
The funny part is that now while the fish are panicking and selling their valuable assets those whales would enter again and buy the cheap coins to get ready for the $100k bitcoin (remember bitcoin dropped from $20k to $3200 to get ready for the $40k, $50k and $60k.
Cryptocurrency News predictions
Simply put, no risk, no reward, as is true with all investments.
I took the risk when bitcoin was only $120.
, held on until it hit $700.
, got cold feet because of bad press, sold, sorriest investment move of my life.
Sure, I had a great ROI, but then bitcoin continued to go up, so I got back in at $2200.
and then bitcoin shot up to $20,000.
briefly, and since had dropped back to $13,000.
range, so you have to have balls to stay in an knowledge when to get out, I had neither, just took a little risk and then reinvested from profits, so now I can gamble and will let it ride, you never know how high it might go.
Just look at the stock market, nobody predicted an $8 trillion rise in market value, especially the so called experts like pinhead Paul the fake economis.