Post
Topic
Board Speculation
Re: TA indicates a sharp drop soon
by
exstasie
on 11/06/2020, 06:49:36 UTC
sharp drop
go back down towards $6/3k levels...

to this day i still don't understand why some people keep saying things like this! why should price of something drop SIGNIFICANTLY just because it didn't go up?

It's not that it should, but that it can.

I'd say $3K is improbable, but $6K would be completely typical for BTC. Just another day in the market. The historical charts are riddled with drops like that, and surely there isn't a fundamental explanation for every one. Sometimes the market just drops. Supply and demand, etc. BTC is a very thin market. It doesn't take that many coins to spark a selloff, especially if the underlying market conditions are bearish.