Bitcoin sees biggest drop since January
Bitcoin is falling sharply today, in fact this is the largest drop since January of this year.
This chart is not for the faint of heart:
This drop is happening at a very bad time technically for those bullish the coin.
The $7k area was seen as a support that prices were expected to bounce off of in order to start the next surge higher.
Technical analysts from Fundstrat talked about it here:
So much for that chart...
Prices have broken out of the triangle to the downside, which usually means that lower prices are in store in the very near term.
That being said, if prices can hold up around here at $6,700 all is not lost. Also there is some support around the $6k area as well.
Though, to me it is looking like prices are going to need to wash out first before we start to head higher.
Unfortunately that may mean lower prices in the next few weeks...
Stay informed my friends.
Follow me: @jrcornel
I hope it will be a long bear market.
To weed out and hurt as many whales as possible.
They made way too much money on the expense of whom?
On the expense of the suckers that bought this energy dumpster from them at extravagant prices.
People should cheer when BTC goes down and stay out.
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This is a good time to buy bitcoin! It only takes a message about a whale on Houbi and many people are making panic sales. that's what's happening
It is interesting that bitcoin seems to be down just as much or more than some of the altcoins. Unusual to see that... perhaps that whale is liquidating?!
hope so ;)
Why is that?
i don´t like whales because they have too much influence on the courses.
sry i misunderstood you. my english is not the best. i don´t hope that the whale is liquidating
Is that what it is, or is that whale actually selling?
looked at Houbi and there was no big sales order. I think that's not the sale of the whale. looks like panic sales
have made a post about the whale
https://steemit.com/cryptocurrency/@nemenge/bitcoin-wal-transfers-94-000-btc-to-a-houbi-account-exchange-bitcoin-scene-reacts-scared
last day there was a hack on south korea exchange coinrail.
will also be a reason for the course
what if it drops to 3k? It's all guesswork
It remains a gambling. But last year the Bitcoin price was under $ 1k.
Every day we are seeing bad news about Cryptocurrency. But It is right time to invest in Bitcoin. Thanks for sharing.
This is brutal :(
We need a Rally!!!
💰🤑💰🤑💰🤑💰🤑💰
I hope it crashes more so we can get those cheap, cheap btc
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This is proof that all those crypto experts no just as much as the next person. They look at the charts, read the tea leaves, and at the end of the day, it's 50/50. It goes up, it goes down. I just feel sorry for people that pay for these charts, or worse, pay for these experts advice.
You would have better luck reading the sweet corn in your morning dump
I think the thing to remember is that there are no experts in this industry. It's too new still. Anyone that tells you they are a bitcoin price expert is lying or trying to sell you something.
Guys don't worry about these crashes. Bitcoin is not a short term investment. Long term its price is only upwards.
This no surprise, as you know i have been saying this is beyond obvious since January :)
Yes you have. Hopefully you are ready to buy some when it hits your levels.
Come to Papa Bitty, Come to Papa :)
Yes, I've been watching it dropping rapidly for the past few days, at this hour it is @ $6719.35. However I dont think people should panic too much, I believe it will rise again soon!