Bit of an update with BTC and why I am so convinced it's going down.
1. The current down trend is not over, and we seem to by bouncing between those lines which are support/resistance line
2. The moving average for the past 50 days has gone under the moving average for the last 200 days... we are seeing a lot of red at the moment and this will most likely continue
3. There is a lot of bad press in the media at the moment for Crypto, and this is mainly because a lot of these coins arent coming up to the bar with the promises they have made, someone needs to bring someone tangible to the table, a partner with a big brand, a product that can be used in the real world, SOMETHING that will make "Joe Blow" put his life savings into crypto to give it the boost to get back off the ground again.
What does this mean for us? HODL your tether position, you will be able to buy more Bitcoin and other alternate coins at a MUCH lower price.
Where is the bottom? I think personally around the 4-5k mark.
When will we stop seeing red and be able to feed our kids again? I'm optimistic that in the next month of 2 (May/June) We should see the bottom and a confident upturn :)
1. The current down trend is not over, and we seem to by bouncing between those lines which are support/resistance line
2. The moving average for the past 50 days has gone under the moving average for the last 200 days... we are seeing a lot of red at the moment and this will most likely continue
3. There is a lot of bad press in the media at the moment for Crypto, and this is mainly because a lot of these coins arent coming up to the bar with the promises they have made, someone needs to bring someone tangible to the table, a partner with a big brand, a product that can be used in the real world, SOMETHING that will make "Joe Blow" put his life savings into crypto to give it the boost to get back off the ground again.
What does this mean for us? HODL your tether position, you will be able to buy more Bitcoin and other alternate coins at a MUCH lower price.
Where is the bottom? I think personally around the 4-5k mark.
When will we stop seeing red and be able to feed our kids again? I'm optimistic that in the next month of 2 (May/June) We should see the bottom and a confident upturn :)