Post
Topic
Board Press
Re: [2019-12-17] Bitcoin’s failing price could be caused by $2B Chinese Ponzi scheme
by
malevolent
on 20/12/2019, 20:53:33 UTC
Is it really bearish? We were bearish whole 2018 and are now consolidating. We used to be at 6000 before that manipulated drop to 3000 and then we recovered but overshot. We should have recovered to 8-9 thousand not 14 and that's why we had so much uncertainty. Many people read it wrong like it's another big bull market but it was not and the confusion turned into short term panic. If there was no overshot to 14 thousand we'd be at 7-8 thousand anyway because that's where a steady rise from Novembber 2018 would take us.

I don't know why so many people still think we're going to go lower than 5000.

There's nothing guaranteeing a steady rise. If tens of thousands of bitcoins are still waiting to be sold from this ponzi there's no telling how low we'll go.