Get ready for the weekend games...
Every weekend the bears push bitcoin around, get ready...
We've seen a pretty consistent trend over the last several weekends where the price seems more volatility on the weekend than it seems during the week.
Specifically, volatility to the downside.
I expect this weekend to be no different...
In fact, it may already be starting:
(Source: https://bittrex.com/Market/Index?MarketName=USD-BTC)
As you can see in the last hour we saw a pretty large drop from bitcoin after seeing steady gains for much of the preceeding hours.
That by itself isn't an issue as pullbacks are normal and healthy, but it's the speed of the pullback and the tendency to see these large fast deeps on weekends that are notable.
There is less volume overall on the weekends and less support from Wall Street than there is during the week.
Like it or not Wall Street has now become a major player in the bitcoin and crypto world and when they aren't buying the price tends to be easier to push around.
It doesn't matter much in the medium to longer term but it's worth noting if you are trading or just wondering what is going on over the weekends.
Now you know.
Thanks for your good work and sharing!
Have a nice weekend.
That is just not limited to bitcoin, they are taking over all other blockchain based technologies and crypto, the monopoly is being established, they are funding and backing big crypto projects, pumping and taking out billions of dollars and fluctuating the prices.
I think that the 60,000 mark is really important and we will see some more firepower above that level. I am bullish from 54,000 and my first target was 60,000 itself.
I liked crypto better when it was actually "crypto" -- as in hidden, as in under their radar. Having all these institutional powerhouses putting their thumbs on the scale will very quickly recapitulate the pre-existing social order.