The miners create 1800 bitcoin/ day, which means, with simple supply and demand, bitcoin will need ~$23.4 million of new investment/day just to buy the new bitcoin that is being created (not to mention holders selling new highs) to maintain that price.
I use LOGIC and NUMBERS to figure out my trading and holding strategies. I share this data with my clients on my site, please give it a look. It could have saved a lot of people money in this fervor.
https://www.amsinger.org/sample-analysisI will keep updating this topic as the crash continues or if I get interesting comments.
I really just want to help people save money and avoid the pain I felt in Nov 2018 when I was cleaned out for basically no reason.
What doesn't kill you makes you stronger,
Aaron
The 13K USD price was unsustainable because the whales+HODLers+small traders+lucky noobs started selling their btc to cash out the profits and that selling pressure was stronger than the buying pressure coming from the whales+traders+possible institutional investors(I'm not quite sure about the third group).
There's support for 11K USD,which is great.