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I would like your opinions on two thoughts:
1. I have seen many many BTC corrections throughout the past years. But what has particularly struck me in this one is the absence of any buybacks or even temporary relief rallies, no matter the time frame. It is a bit strange to me and makes me think whether this time it is different. TA is not very much respected (well it was never too much respected to begin with with BTC) but especially after breaking the 6Ks there is hardly any buing reaction, like a patient that is already clinically dead but still supported from machines..
2. Who is selling? It is hard to believe that all this is panic selling from "noobs". Some dumps are way too orchestrated and timely. When did all this selling power build up? The only normal explanation i could find is basically an assumption: whether bad legal or tax news lie ahead so "big boys" are cashing out. And i do not even mention some of the other alts that look like they will give the ultimate fight for their very existence.
My conclusion is that it looks like a shakeup, a clearing phase. Just like the burst of .com, which enabled the rebirth of some champions. I hope BTC will be there in the next phase as well and not be replaced by some government backed BTC-clones.
if i put all these together, this correction "smells" differently. i am not sure btc will rebound any time soon (and i mean in 2019-2020). And not by any considerable amount.
1. I have seen many many BTC corrections throughout the past years. But what has particularly struck me in this one is the absence of any buybacks or even temporary relief rallies, no matter the time frame. It is a bit strange to me and makes me think whether this time it is different. TA is not very much respected (well it was never too much respected to begin with with BTC) but especially after breaking the 6Ks there is hardly any buing reaction, like a patient that is already clinically dead but still supported from machines..
2. Who is selling? It is hard to believe that all this is panic selling from "noobs". Some dumps are way too orchestrated and timely. When did all this selling power build up? The only normal explanation i could find is basically an assumption: whether bad legal or tax news lie ahead so "big boys" are cashing out. And i do not even mention some of the other alts that look like they will give the ultimate fight for their very existence.
My conclusion is that it looks like a shakeup, a clearing phase. Just like the burst of .com, which enabled the rebirth of some champions. I hope BTC will be there in the next phase as well and not be replaced by some government backed BTC-clones.
if i put all these together, this correction "smells" differently. i am not sure btc will rebound any time soon (and i mean in 2019-2020). And not by any considerable amount.
You are totally right. Comparing with all others corrections/crashes, this looks totally different. Almost no bounces, keep dropping with flat corrections, technical levels not respected at all.
I have no idea what's causing this (might be linked to the emergence of margin trade?) but I am curious to see how it will end...
