Bitcoin is in Free Fall Again .
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Here come below $300 guys. Everyone knows if Bitcoin (BTC) hard forks, Poloniex will add Bitcoin Classic (BTCC), and away we will go.. The halvening hype has faded .. There is no other good news on the horizon except more talk about what we going to do, while Bitcoin (BTC) still doesn't scale. However, maybe hard fork will be alright since Bitcoin Classic (BTCC) will maintain the can't scale feature. We all know the drill. Chinese miners are panicking again .
Disclaimer: I am hodler and trader of Bitcoin (BTC) .
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Once upon a time... BTC goes up, ETH and alts go down and vice versa. Now that we have ETC, BTC goes down, and ETH & Alt coins ALSO go down, but ETC goes up. No. Really, no.
Bitcoin is very swingy. If any movement starts, a ton of traders jump on that with margin funded longs or shorts, making it move fast and far. But they can't pay interest on it forever, and there is a real market for bitcoin underneath all the frenzy. So eventually they have to close their (in this case) shorts, adding buy pressure, and the price will rise back.
And it may look like it's in free fall right now, but if you look further back, there was a huge upward rally just a month ago. In reality, this is just losing a bit o the huge upswing it gained there, a reversion to the mean. Not free fall.
I bought a few btc at 600 just now. time will tell!
It will be a super intereting journey profitable or not!
BTW, your IMG tags are all wrong. Everything else is fine! :o)
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