with ETH tracking the price of BTC so closely i feel we may be finding a bottom with BTC finding support, for the moment, at the 10/14/17 - 10/28/17 levels
In all seriousness, this is the 3rd bull trap in the latest drop. It is also occurred at the megaphone channel support line. The trouble is, there is huge overhead resistance. Gains can't be made so there is nowhere to go but down. People don't have faith in BTC long term anymore so any gains that are made quickly evporate as people sell to make profits.
@mikehill85, totally agree... especially if we consider the "retail investors". and even if it actually turns into an up trend, there is a long list of people who have bought in since mid-november and are waiting for the value to go back to their buy price, and when that happens, if it happens, there will be another mass sale.
on the other hand, I think there are still many people who believe in BTC and the blockchain technology (such as myself) and won't lose faith.
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indeed ETH and BTC have almost exactly the same price movements... which one will recover faster?
on the other hand, I think there are still many people who believe in BTC and the blockchain technology (such as myself) and won't lose faith.
road to glory isn't for the lighthearted I guess