Bitcon: sub 2000 by next week, 3 digits eoy...maybe... :p

1- Why is the price dropping so violently?
2- Supports?
3- Disgusting momentum
4- Examples: Gold Nasdaq
5- MASSIVE selling potential
6- Bots saving the price + desperate miners & exchanges


Part 1 2 3 are in the video

For part 4 I would like to show some examples of bear markets and in particular strong momentums (down):

First this is what Bitcoin is not

This is what Bitcoin is similar to

Now the BTC chart...

BTC side by side with euro

Do you see the potential?
Let me zoom out :)

^.^

Part 5 -

This is not only the 2017 investors now, since we might drop below monthly moving averages, you got everyone (and I mean EVERYONE Vitalik Satoshi Hal Finey children whatever) that might sell now.
Also, Jihan Wu is in trouble, as all miners, not only is he suspected of having used clients ressources to mine, and might get a bill, but he has a company to run and bills to pay, and this company is bagHODLing hundreds of thousands of numbers in a database. Buyers do not want to touch this horrible thing, miners are in trouble, there are huge amounts to be sold, people that "bought the dip" might get stopped quickly "gave it a try", money from wall street is in big trouble with the "volatility" you heard the NatGas story right? That guy was my avatar for a while :p
The US stock market funds are in the red they cannot speculate, and they get judged quarter to quarter they will NEVER buy and hold crypto's. Guys like Warren Buffet are the only buyers in such situations... and ... you know their stance.
Only value investors I know are Warren B, Charlie Munger, Phil Town but I'm pretty sure they represent the majority.


Part 6 -
The price might go up! Might go up ALOT! To 1 million even, totally possible.
See, when people have their back on the wall, they sometimes do really stupid things.
Miners & exchanges have their backs on the wall (to CSW & Calvin Ayre delight - and mine).
Do not get surprised if 100 BILLION with a b get printed and 1 million BTC get bought @ market...

So take care with shorts.

I am not shorting myself, for the following reasons: 1 cba. 2 do not want to be in a lawsuit for years after Tether manipulates the price to 1 million in a day out of desperation. 3 I want to focus on my one and only strategy of trend reversal. 4 I already got enough exposure as is, I am on some awesome opportunities right now, some stocks that will very probably bounce AND my risk to reward is around 3!

If you take a look at order books today, each time the price drops bots save it. But every bounce is getting weaker. Going to break soon.

Comment:

I guess Bitcoin is dropping faster now... Exponential acceleration down :D
When it is all over I will focus more on stocks bagHODLers and I might start a "hidden gems" series where I post some great opportunities I dug up. I will miss the fun the bagHODLers have provided. Let's hope another bubble happens soon.

Comment:

Ripple OTC Distribution transfered half a billion ripple to an unknown wallet, and an unknown wallet transfered almost half a billion $$ to an unknown wallet (did not check if they were the same w/e).

Good luck bagHODLers...

I really need to know of someone that monitors satoshi wallets.

We can start to see how Bitcoin will look compared to the mississipi and Tulip Bubble. BagHODLers were right, Bitcon will not go away, it will stay in our memories and will have its spot forever among the great bubbles of humanity.

Comment:

Inside bar bull break!
For historical reasons I hope it is not a fakeout, would be nice to see a big clear denial phase. I do not think it would last more than a few weeks thought. I green weekly candle or 2 is enough.

Comment:

Weekly candle closed, brace yourselves.