Bitcoin failed store of value test, prices will drop a lot more!
Hi guys,
I hope you had a corona free weekend and used the time where you have been put to quarantine, home office work and such to study charts and market sentiments.
Let's face the disappointing and obvious bad news for bitcoin that will make it dump even more:
1. Bitcoin failed as a store of value, it's NOT a safe heaven in times of crisis, it does NOT store any value for you.
2. The majority of trading volume is suspected to be fake.
That it's slow and without smart contracts and very energy consuming is old news but worth to keep in mind, no one is fixing these issues.
This means 2 things for Bitcoin prices:
1. Now that people realized that bitcoin cannot keep the promise of being a store of value they will sell even more.
2. It can easily go down multiple thousands of dollars, it can fall so easily and your big stack can be worth nothing in a matter of days.
Why?
Simple reason: People who trade on crypto and stocks have the same mentality: When prices go up a lot they buy in fear of missing out, when prices drop they sell, well in fear of fear lol.
Have a good weekend and work on growing plants, knowledge or other things that are actually worth the time and money you spend on them and will give you value back.
This is no investment advice, trade at your own risk. No numbers included since it wouldn't work to predict exact numbers.
I hope you had a corona free weekend and used the time where you have been put to quarantine, home office work and such to study charts and market sentiments.
Let's face the disappointing and obvious bad news for bitcoin that will make it dump even more:
1. Bitcoin failed as a store of value, it's NOT a safe heaven in times of crisis, it does NOT store any value for you.
2. The majority of trading volume is suspected to be fake.
That it's slow and without smart contracts and very energy consuming is old news but worth to keep in mind, no one is fixing these issues.
This means 2 things for Bitcoin prices:
1. Now that people realized that bitcoin cannot keep the promise of being a store of value they will sell even more.
2. It can easily go down multiple thousands of dollars, it can fall so easily and your big stack can be worth nothing in a matter of days.
Why?
Simple reason: People who trade on crypto and stocks have the same mentality: When prices go up a lot they buy in fear of missing out, when prices drop they sell, well in fear of fear lol.
Have a good weekend and work on growing plants, knowledge or other things that are actually worth the time and money you spend on them and will give you value back.
This is no investment advice, trade at your own risk. No numbers included since it wouldn't work to predict exact numbers.