Quote from: timcook on October 11, 2019, 03:25:17 PM

My favorite takeaway: "Experts believe that institutional investors were at play behind the recent price drop in Bitcoin. Moreover, the scenario may not improve any time soon. Sell-off may intensify and Bitcoin may plunge to $5,000 before Christmas."

That could happen, but I don't think it will--but I wouldn't venture to bet on it either way. Bitcoin is as unpredictable an investment as I've ever seen. However, it does appear to be stuck where it's at, just as it has been many times before. I'm hoping that when it breaks out of its range, it'll be to the upside--and either way, I don't think it's going to test $5k by the end of the year. That isn't too far away, and losing $3k in value in such a short period of time would be icky to say the least.

Anyone who's ever read my posts knows I'm not a believer in TA, so resistance levels don't have much meaning to me. I constantly see that principle being violated in the market based on threads I read on the forum, so I don't put much stock in that part of the statement.