Post
Topic
Board Speculation
Re: NEW BAKKT game
by
KingZee
on 23/12/2018, 18:33:06 UTC

Though I'm on the same belief that 3000$ is a strong floor, I'd like to remind you that 5000$-6000$ also seemed as a strong support.
If the only thing determining the price was how many BTC are being bought and how many are being sold by people, I believe we would have never fell under $10k. But Bitcoin's market cap is so small it's easy to use the futures to manipulate the price.

Therefore I wouldn't be 100% sure that we've seen the bottom.

Of course, I agree that in the end it's just speculation and one can never be certain. But it's still a strong sign that we have managed to test the 3200 bottom twice since beginning of december with never reaching sub-3k.

It's still possible for it to get back to those levels, but I'd honestly be very surprised if it broke 3k after it failed during the much more bearish trend.