Most reasonable people thought we were going down from the 6K level..declining volume etc,etc. What has been surprising to many, me included is the hard, fast and deep nature of the drop. I certainly expected to see 4500-4900, then a bounce, before a deeper decline maybe over the holidays and into the New year. What we have seen is a concerted effort to go as low as possible as quickly as possible and the question has to be Why?...Its like there is a hurry to get somewhere for some reason before something happens. The only thing I can think of is ETF approval which we all know would have a major boost effect to the price of all the major cryptos. I have always thought they wouldnt be approved, but maybe...otherwise why not continue the range bound pump and dump for profit system we have been following all year...
If you have any thoughts as to any other reasons you can think of...please comment... This was just a thought...not advice...just spitting in the wind..
And Bakkt... The conveniently moved the date for opening futures contracts Jan 24th... This is Most definitely Wall Street youtube.com/watch?v=ZVrNTVyEgfU
FernandoTarnogol
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Smart money wants to reset the clock so they can get back in where they missed the train last year
FernandoTarnogol
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The way I see it:
Bottom $2400 on Jan 21st... 3 days before Bakkt launch... matches previous bear cycle.
ThumbSkin
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The swiss approved an EFP in their country and the price tanked