Why BTC might be going to 2k-3k range?
Halving narrative was what keeping the coronavirus situation off from investor's mind. Now that the blanket of halving will be gone in 2 days, there is nothing else left to motivate investors. Soon all the bad news from stock market will take over investor's mind. Don't forget that bitcoin is the riskiest asset. When stock market tanks, bitcoin is the first to be sold to cover the margin calls.
Keep in mind that there are 30 million unemployed people in the US who have no source of income. This is not 2012 or 2016 when everything is booming. We are in the middle of deadly pandemic where thousands of people are dying everyday and millions have no food to eat. Forget Bitcoin for the time being. Expect chaos and bloodshed in the next month or so and don't be surprised if you see $2000-$3000 range.
This is the reason why smart money is dumping right now. In order to dump, we need liquidity means we need dumb money. This is where CNBC and all the news media comes in where they try to lure retail investors. Jump off the ship or get REKT.
Happy DUMPING.
Halving narrative was what keeping the coronavirus situation off from investor's mind. Now that the blanket of halving will be gone in 2 days, there is nothing else left to motivate investors. Soon all the bad news from stock market will take over investor's mind. Don't forget that bitcoin is the riskiest asset. When stock market tanks, bitcoin is the first to be sold to cover the margin calls.
Keep in mind that there are 30 million unemployed people in the US who have no source of income. This is not 2012 or 2016 when everything is booming. We are in the middle of deadly pandemic where thousands of people are dying everyday and millions have no food to eat. Forget Bitcoin for the time being. Expect chaos and bloodshed in the next month or so and don't be surprised if you see $2000-$3000 range.
This is the reason why smart money is dumping right now. In order to dump, we need liquidity means we need dumb money. This is where CNBC and all the news media comes in where they try to lure retail investors. Jump off the ship or get REKT.
Happy DUMPING.