BIG NEWS out this evening of June 12, 2022. Celsius, a leading crypto lending platform, has halted withdrawals. Historically, this is a sign that a platform is fearing a "bank run" scenario and is willing to sacrifice customer trust to maintain financial solvency. Rumors have been swirling this week but now it is confirmed.
In this video I share what this has historically meant and share my opinion on what I think investors should be watching.
The financial news tomorrow will no doubt cite this news as the "reason" for the weekend crash... but Technical Analysis was clear going into June that crypto was in a bearish cycle and major supports were already breaking.
Thank you Norok. Spot-on and professional as always when you comment. Next support for BTC would be around 10,000 to 11,700-ish. After that, a period of consolidation where no one will touch crypto (could last 3 to 18 months). I'll get back into the game during the consolidation phase.
norok
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@Moschi-san, Bitcoin 17k-10k has been my thesis since November. Agreed.
TylerWayne10
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Do you see us continuing downward? Or do you see a bounce and then down further
norok
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@TylerWayne10, My thesis since November has been 17k - 10k BTC that would last into 2023.
ZOption
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Remember watching your stream just a few weeks ago saying this would happen. Spot on norok.
pingocho
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Thank you
Vibranium_Capital
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thanks for the video buddy
ChartMeNot
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Apparently Litecoin has adopted privacy features recently, so that could make it more viable as well as Monero.
norok
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@ChartMeNot, It could but out there on the Net where privacy is valued most there are only two forms of payment... Bitcoin and Monero. Monero has secured its place as the Bitcoin alternative for payments with the added level of security in addition to the MUCH lower transaction costs.