BitcoinGuru
Short

Expecting W formation by Retesting 340 before our Next Bubble

BITSTAMP:BTCUSD   Bitcoin / Dollar
Retest of 340-360 by October-November
Forming a W double bottom
Bull market will only then kick-in properly
Bitcoin going to the 300s (266 could be possible depending on volatility and panic) would be better so that fresh and new traders come on board.

More descriptive info incoming....
I disagree. 90% of Bitcoin investors are amateurs not Wall Street traders. When the amateurs see the price dropping and dropping they won't buy "cheap" - they simply won't buy. And the media is going to love it when the Bitcoin price sinks. It will be a proof for them that "Bitcoin is a scam", "I told you so". When that happens even more people will sell Bitcoin.

The only thing which may push us upwards is the approval of a Bitcoin ETF which could get Wall Street interested to buy Bitcoin.
+1 Reply
I completely agree and you know who this is :)
+1 Reply
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