Politics pushing Bitcoin south
JP Buntinx - Tue, 25 Jul 2017 12:07
It looks as if cryptocurrency traders may have another rough patch looming ahead. The Bitcoin price suddenly started declining, resulting in a near 6% loss in about an hour. That is never a good sign, especially not when considering how the rest of the markets are responding in similar fashion. Both Ripple and Ethereum are taking a serious beating right now, with Stratis being the biggest “loser” in the top 10 as we speak.
What's your opinion let's talk about it Let's start a conversation
I saw it coming a mile away, not because of politics but just from looking at a candlestick chart. When the indicators signal the end of an uptrend, whales sell. It's as simple as that! People always try and attach meaning to it, but it's just up, down, up, down, up, down. Any word in the media is usually to help it go up or down so the guys with all the money can make more money. I swapped all my Steem for Steem Dollars just before it happened, just from using the indicators on bitcoin wisdom. And I'll swap my Steem dollars back into Steem when the downtrend is over and probably have considerably more Steem than I started with.
Learn how to use SAR and MACD indicators.
I totally agree you have to take and play it safe specially when we're getting closer to August 1 and the unknown is near
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