Post
Topic
Board Speculation
Re: BTC movement after today flash crash
by
deisik
on 07/08/2019, 08:10:43 UTC
Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen

Get used to these crashes (and embrace them)

Or stay away from trading altogether. Regardless, I can help you understand why such severe price swings are happening and why they will likely continue to happen in the future (at high prices). This is the kind of behavior you should in fact expect from mostly a speculative asset. Long story short, the volatility of an asset which is mostly used as a vehicle for speculation but which has a fixed, limited supply at that is invariably set to explode at higher prices

I had been writing about this phenomenon in 2017 before we hit the 20k mark, that such prices can't possibly be stable. Now we essentially see the same picture, though at prices in the range of 9-13k. If we ever hit levels like 50-100k and those won't be supported by actual use of Bitcoin in real life, you will see prices surging and crashing as fast but even in the wider range in relative terms (relative means percentages here)