MarketsQuickie[Quickie] Is $3000 the bottom for Bitcoin?

A quick summary - presented by Coinsauce professionals
CoinsauceDecember 2, 20182 min
  • More negative news lately, delay for Bakkt launch, SEC singing a negative tune signalling no etf will be approved in the near term

  • Bitcoin Cash split, also exacerbated the situation as the two camps ABC and SV sold BTC to fund their hash (mining) battle.

  • However, we think it’s due for a u-turn in Bitcoin pricing because the weak hands have already dumped.

  • Funds that have held on to crypto losses will not liquidate at current losses, contrary to what pundits suggest

  • When otc markets dry up, which it will (as weak hands have already sold, and whale speculators are currently in collection mode) larger funds will have no choice but to buy from open market

Photo by: Bitcoin News

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