China has made similar threats / statements in the past, so it could just be a lot of profit taking
But if everyone's scared, the selloff can continue, there will be no government intervention
But if everyone's scared, the selloff can continue, there will be no government intervention
buying low and selling high is never easy. IF one believes the crypto story, here's the chart;
https://ca.investing.com/crypto/bitcoin/chart
click candlestick, click 1M (monthly chart) then click widespread icon
take away the two candles to the right (April, current May)
PARABOLIC move......... as stable as a 3-legged table , 6 straight green candles-- ended in April with a long-legged doji, red flag, esp if it was to open May below the body-- it did
from the monthly where can it retrace to? there r no support areas, lol, Using fibo;
.61 -- $31,000
.50 -- $37,179
consolidation and re-assses is how id look at it from a trading lens.
agree with willie, no govt bailing out crypto lol
https://ca.investing.com/crypto/bitcoin/chart
click candlestick, click 1M (monthly chart) then click widespread icon
take away the two candles to the right (April, current May)
PARABOLIC move......... as stable as a 3-legged table , 6 straight green candles-- ended in April with a long-legged doji, red flag, esp if it was to open May below the body-- it did
from the monthly where can it retrace to? there r no support areas, lol, Using fibo;
.61 -- $31,000
.50 -- $37,179
consolidation and re-assses is how id look at it from a trading lens.
agree with willie, no govt bailing out crypto lol
It will never threaten USD (if it does, probably rather be dead), it's just a store of value similar to gold. Think of it as digital gold. Not a currency.
I'm not sure it will make it long-term but that is the thesis people need to operate under. I hear/read way too many people comparing it to currency or disrupting currency, that isn't the use.
Current market cap 1/16th of what Gold is so if it succeeds it has room to run.
