BitCoin is going through a period of extended Bear Run. Those who have been following bitcoin would know that the current year has saw some prankster trying to pump bitcoin up and down via dumping 16k of bitcoin throughout the year 2018.
The trend has all been messed up by whoever the prankster was. And the lack of movement from the other whales is most probably causing bitcoin price to stagnant now.
For the other whales, you must realise this. If they are not profiting, they are making a lost.
What is happening now is most probably, the whales are exiting BTC/USD and using the lost they made here to make profit in other markets.
I am guessing that we will see a prolonged period in the 5000 range due to the following reasons
1.) Increase in Competition from Various Cryptocurrencies
2.) Bleak Global Economic Outlook with the China / USA Trade War
3.) Unclear trends in BTC/USD making it difficult for any traders to do any technical analysis.
I would suggest to everyone to wait for a clearer trend in the market before investing in BTC / USD
*This is just my point of view and is meant to be educational and informative. I am giving back to the Bitcoin Community like what other people does.
The trend has all been messed up by whoever the prankster was. And the lack of movement from the other whales is most probably causing bitcoin price to stagnant now.
For the other whales, you must realise this. If they are not profiting, they are making a lost.
What is happening now is most probably, the whales are exiting BTC/USD and using the lost they made here to make profit in other markets.
I am guessing that we will see a prolonged period in the 5000 range due to the following reasons
1.) Increase in Competition from Various Cryptocurrencies
2.) Bleak Global Economic Outlook with the China / USA Trade War
3.) Unclear trends in BTC/USD making it difficult for any traders to do any technical analysis.
I would suggest to everyone to wait for a clearer trend in the market before investing in BTC / USD
*This is just my point of view and is meant to be educational and informative. I am giving back to the Bitcoin Community like what other people does.