BITCOIN...IS IT FINISHED FALLING ALREADY?!!
52 days ago the world was ecstatic. Bitcoin was at all time highs and party favors popping off everywhere. Then.....the next day, THE ALL-TIME-HIGH!!! $19,666.00 and after that prices fell, and fell. First $11,159.93 with a bounce to $17,234.99 and since that day on January 6th it's been a freefall just like that gif above.
We had price reach the low of $5,921.00 today. Are we finished falling already?!
If You've been following this market then you'd know that Bitcoin had hit a market turn point on November 12th at $5,555.00 before ascending to $19,666.00. Some say today's low meant Bitcoin was down 69.89%. I would say that Bitcoin took back 97.41% of the gains between November 12 and the ATH. However, the important thing to pay attention to is volume.
Today's volume hasn't occurred like this since September 15th, when Bitcoin made the low of $2,972.01. This is encouraging. It reminds me of Newton's First Law of Motion - "an object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force." I see that today's volume could be that "force" that changes the direction of Bitcoin. To answer my own question, "I do believe Bitcoin has quit falling". If not but for a short time.
The opinions above are those of the Author and do not constitute investment or trading advice.
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Regardless of whether Bitcoin has finished falling I do think the underlying processes of economics and physics are far more closely aligned than almost anyone acknowledges. It's reflected in our speech when we talk about the economy as if it was a physical object, like markets prices as if they were having to contend with gravity for example. I don't think this is a coincidence. What we talk about with economics is just representing some essential part of the phenomena on another level/dimension. Some of the time it can seem more literal than other times.
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You are totally right! The biggest crash is finished. And I think that Bitcoin will come back stronger than we might expect now :)
I was told there would be lambo's and I'm not leaving until I get one.
Jokes aside I think everyone knew BTC was WELL overdue for correction and the more overdue the stronger the correction, than you have all the stuff with the futures and cme, the regulating, the fud, ATH buyers panic selling... it was like the perfect storm to try and kill interest in BTC... we'll see how that goes.
Most of the people that I know (personally) it's just another buying opportunity and even the few I know that are sour after buying in at >10k don't really think it's over... they are just upset from being blindsided and having to wait out the downtrend.
I don't know anyone (personally) who panic sold crypto, even dudes down >60%.
It is not finished . It is only the begining . The number of btc atm's have risen recently . Mass adoption coming .
Idk. There are still people out there trying to attack the CryptoMarket. The media is trying to say Cryptocurrency is finish....Fake news lol