RIP Bitcoin…
In a little less than a year, Bitcoin plunged from as high as 19,666 in Dec. of 2017 to as low at 3,600 as of writing this, which is a loss of about 82%.
Bitcoin is doing exactly what I predicted earlier this year it would do. I pretty much said Bitcoin was crap and advised everyone to stay away from it. You cannot say you weren’t warned.
Here:
Bitcoin crash resumes…new lows coming
Bitcoin falls again. Another correct call.
Looking at the Bitcoin order flow, one sees that all the big buyers have dried up. In early to mid 2018 back when there was still much more enthusiasm and money despite the large price decline, Bitcoin would bounce back 1000+ points in a few days, but now it can barely surmount a 200 point recovery. The funds that helped drive Bitcoin from $1000 to $19,000 are gone, leaving only ‘whales’ who are dumping and small dip buyers. Obviously, this an unfair match. One of the biggest lessons is, never take financial advice from people on Twitter.