Re: Public service announcement for noobs: Why the drop really happened
LOL @ TA being the primary motivator for the drop.
Yeah, a near arbitrary line was crossed so everyone just said fuck it and threw the towel in causing rates to drop $75.
IMO the stars aligned and some big fish took an opportunity to shake the market.
Yeah, a near arbitrary line was crossed so everyone just said fuck it and threw the towel in causing rates to drop $75.
IMO the stars aligned and some big fish took an opportunity to shake the market.
It was an overleveraged market whose uptrend had obviously stalled, and Mike Hearn helped accelerate the de-leveraging. I would be buying the dip, but the Bitcoin Classic fork will drop it again until it's over. If you want to minimize risk, the only logical move is to wait for that to be priced in, unless you think world financial markets are going to collapse tomorrow.
Here is the exact point that indicated complete end of rally with drop immiment:
